Looking for 10 year fixed rate mortgage with lowest exit fees- any suggestions?
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mrstingy2022
Posts: 54 Forumite
hi All
I need to switch from the tracker to fixed rate and i would like 10 year fixed rate mortgage.
I need to borrow 60k(property 310k).
Can anybody suggest the deal with the least exit or overpayment fees?
Are there any tricks or gotchas that i should be aware off?
If i am in fixed deal and theoretically would like to pay everything off on the next month of mortgage - will i pay a fixed percentage of the payed amount?
Best Regards
I need to switch from the tracker to fixed rate and i would like 10 year fixed rate mortgage.
I need to borrow 60k(property 310k).
Can anybody suggest the deal with the least exit or overpayment fees?
Are there any tricks or gotchas that i should be aware off?
If i am in fixed deal and theoretically would like to pay everything off on the next month of mortgage - will i pay a fixed percentage of the payed amount?
Best Regards
0
Comments
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Why would you want the commitment of a 10 year rate and then be focused on low exit fees?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.2 -
FirstDirect ha sno overpayment limits.
Now exit fees, wouldn't be better to take 5x 2 years fixed deals? When you product transfer every 2 years it's all hassle free and takes few seconds - no need for remortgagiong every 2 yeras and get the freedom of leaving whenever you wish.1 -
amnblog said:Why would you want the commitment of a 10 year rate and then be focused on low exit fees?0
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Newbie_John said:FirstDirect ha sno overpayment limits.
Now exit fees, wouldn't be better to take 5x 2 years fixed deals? When you product transfer every 2 years it's all hassle free and takes few seconds - no need for remortgagiong every 2 yeras and get the freedom of leaving whenever you wish.
the reason i prefer longer fixed deal is my pesimistic outlook in the economic future eg in 2 years i might be in worse financial shape and not get a remortgag - this sort of thinking0 -
mrstingy2022 said:amnblog said:Why would you want the commitment of a 10 year rate and then be focused on low exit fees?
If your fixed deal ends, you don't change banks - then you grab next best available fixed deal from them without any paper work, salary prooves, literally can be 30 seconds online.
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Newbie_John said:mrstingy2022 said:amnblog said:Why would you want the commitment of a 10 year rate and then be focused on low exit fees?
If your fixed deal ends, you don't change banks - then you grab next best available fixed deal from them without any paper work, salary prooves, literally can be 30 seconds online.0 -
mrstingy2022 said:Newbie_John said:mrstingy2022 said:amnblog said:Why would you want the commitment of a 10 year rate and then be focused on low exit fees?
If your fixed deal ends, you don't change banks - then you grab next best available fixed deal from them without any paper work, salary prooves, literally can be 30 seconds online.mrstingy2022 said:Newbie_John said:mrstingy2022 said:amnblog said:Why would you want the commitment of a 10 year rate and then be focused on low exit fees?
If your fixed deal ends, you don't change banks - then you grab next best available fixed deal from them without any paper work, salary prooves, literally can be 30 seconds online.
Would 2 five year deals not be a better compromise.0 -
mrstingy2022 said:amnblog said:Why would you want the commitment of a 10 year rate and then be focused on low exit fees?1
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Wiser going for 5 years.
10 years is such a long time.
I have recently opted for 2 years.1 -
mrstingy2022 said:Newbie_John said:FirstDirect ha sno overpayment limits.
Now exit fees, wouldn't be better to take 5x 2 years fixed deals? When you product transfer every 2 years it's all hassle free and takes few seconds - no need for remortgagiong every 2 yeras and get the freedom of leaving whenever you wish.
the reason i prefer longer fixed deal is my pesimistic outlook in the economic future eg in 2 years i might be in worse financial shape and not get a remortgag - this sort of thinking0
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