Those remortgaging now, what rates are you getting?

Hoorah

Hi all,

Nearly 2 months ago I secured a deal with Barclays 4.51% over 5 years with no fees. 43% LTV. 

This is due to start 01/09/24 however I keep seeing in the news that rates are dropping and wondered if this isn't such a good deal anymore?

The mortgage broker company I used has liquidated since and I can't go back to them for advice. 

Just wondered what everyone else was getting?

hufc2002

I have just moved to a new product with my current provider (Virgin) and secured 4.03% for 5 years (£995 fee) 60%LTV.  I locked this new rate in 6 months ago. 

ReadySteadyPop

Hoorah said:

Hi all,

Nearly 2 months ago I secured a deal with Barclays 4.51% over 5 years with no fees. 43% LTV. 

This is due to start 01/09/24 however I keep seeing in the news that rates are dropping and wondered if this isn't such a good deal anymore?

The mortgage broker company I used has liquidated since and I can't go back to them for advice. 

Just wondered what everyone else was getting?

If rates were dropping, at least to a level that brings buyers back into the market, why would a broker be in liquidation, or is there another reason?

amnblog

If it is a residential case and you are an existing Barclays mortgage holder, that figure is a little higher than currently available rates (4.31% with fee, 4.45% without fee).

Speak to another mortgage Broker.

Hoorah

amnblog said:

If it is a residential case and you are an existing Barclays mortgage holder, that figure is a little higher than currently available rates (4.31% with fee, 4.45% without fee).

Speak to another mortgage Broker.

Hi, I am not a current Barclays customer. Don't suppose you could recommend a fee free broker? It's a simple remortgage, great credit history history etc. 

And for the poster above, they were called tenet mortgage solutions, not sure why they folded. 

ACG

ReadySteadyPop said:

Hoorah said:

Hi all,

Nearly 2 months ago I secured a deal with Barclays 4.51% over 5 years with no fees. 43% LTV. 

This is due to start 01/09/24 however I keep seeing in the news that rates are dropping and wondered if this isn't such a good deal anymore?

The mortgage broker company I used has liquidated since and I can't go back to them for advice. 

Just wondered what everyone else was getting?

If rates were dropping, at least to a level that brings buyers back into the market, why would a broker be in liquidation, or is there another reason?

Going off the last post, they are a fee free firm. 
You are relying on volume to pay the bills and there has been nowhere the level of volume we have been used to. Last year was my slowest year in 12 years. This year is better, but still much slower than normal. 

They firm was probably not able to take the hit and the lower rates have not come soon enough for them. 

strawb_shortcake

ACG said:

ReadySteadyPop said:

Hoorah said:

Hi all,

Nearly 2 months ago I secured a deal with Barclays 4.51% over 5 years with no fees. 43% LTV. 

This is due to start 01/09/24 however I keep seeing in the news that rates are dropping and wondered if this isn't such a good deal anymore?

The mortgage broker company I used has liquidated since and I can't go back to them for advice. 

Just wondered what everyone else was getting?

If rates were dropping, at least to a level that brings buyers back into the market, why would a broker be in liquidation, or is there another reason?

Going off the last post, they are a fee free firm. 
You are relying on volume to pay the bills and there has been nowhere the level of volume we have been used to. Last year was my slowest year in 12 years. This year is better, but still much slower than normal. 

They firm was probably not able to take the hit and the lower rates have not come soon enough for them. 

I had access to a fee free broker via work, they've recently ceased to trade and their website states they have not gone into administration. Shame as the mortgage advisors had always been fantastic. 

ReadySteadyPop

ACG said:

ReadySteadyPop said:

Hoorah said:

Hi all,

Nearly 2 months ago I secured a deal with Barclays 4.51% over 5 years with no fees. 43% LTV. 

This is due to start 01/09/24 however I keep seeing in the news that rates are dropping and wondered if this isn't such a good deal anymore?

The mortgage broker company I used has liquidated since and I can't go back to them for advice. 

Just wondered what everyone else was getting?

If rates were dropping, at least to a level that brings buyers back into the market, why would a broker be in liquidation, or is there another reason?

Going off the last post, they are a fee free firm. 
You are relying on volume to pay the bills and there has been nowhere the level of volume we have been used to. Last year was my slowest year in 12 years. This year is better, but still much slower than normal. 

They firm was probably not able to take the hit and the lower rates have not come soon enough for them. 

That makes sense, sales are dropping quite noticeably now.

BarelySentientAI

ReadySteadyPop said:

ACG said:

ReadySteadyPop said:

Hoorah said:

Hi all,

Nearly 2 months ago I secured a deal with Barclays 4.51% over 5 years with no fees. 43% LTV. 

This is due to start 01/09/24 however I keep seeing in the news that rates are dropping and wondered if this isn't such a good deal anymore?

The mortgage broker company I used has liquidated since and I can't go back to them for advice. 

Just wondered what everyone else was getting?

If rates were dropping, at least to a level that brings buyers back into the market, why would a broker be in liquidation, or is there another reason?

Going off the last post, they are a fee free firm. 
You are relying on volume to pay the bills and there has been nowhere the level of volume we have been used to. Last year was my slowest year in 12 years. This year is better, but still much slower than normal. 

They firm was probably not able to take the hit and the lower rates have not come soon enough for them. 

That makes sense, sales are dropping quite noticeably now.

June saw a 0.2% rise in UK house prices taking the annual rate of growth rate to 1.5%, up from 1.3% in May (Nationwide).  

The average time to sell continues to reduce, falling to 60 days in May, down from the highs of 78 days in January and the fourth consecutive monthly fall (Rightmove). The number of mortgage approvals held relatively firm in May at 59,991 compared to 60,821 in April (Bank of England). However in the first five months of this year there have been 28% more mortgage approvals than a year ago. Transaction levels are increasing with the latest HMRC figures showing a 17% rise in May compared to a year earlier. Almost a third (32%) of agents say transaction levels are higher than three months ago, with 11% saying that levels are over 5% higher (Dataloft by PriceHubble, Poll of Subscribers).

Over the last four weeks, the number of sales being agreed has remained steady at 6% higher than a year ago. Buyer demand has also remained stable and is now 5% higher than last year (Rightmove - July).

Data from the first 6 months shows the market is on track for 1.1 million transactions in the year, a rise of 10% on last year. (Zoopla)

Which YouTube channel do we watch to find these statistics that the entire market seems to be missing, Crashy?

Hoenir

Plenty of holiday lets coming onto the market that's for sure. Would appear that bubble is deflating. Due to an excess of supply. 

Altior

Those figures are in the context of high inflation and real wage growth. So in real terms, fairly negative. Now that it appears inflation has flattened off for the time being, private sector wages should cool off soon as well. Will be interesting to see how that stacks up over the next year. With all eyes on the fed obviously when it comes to potential central rate moves.