Advice Wanted - First Direct 5.15% 10 Year Fix

evergreen

Thanks for all the explanations of offsetting. Think I understand now.

Offsetting apart is this the best fixed rate mortgage about?

Dan_Collins_2

Best rate I have seen but have not looked at the overall product and fees etc!

_Andy_

dpesky wrote: »

Hi, check www.offsetmortgagecentre.co.uk as they will provide you with free advice on the whole of the offset market and provide reviews on all the lenders. Worth a look! Worse case scenario you confirm that the deal you are looking for is in fact the best deal on the market.

I am a Mortgage Adviser

You should note that this site doesn't check my status as a Mortgage Adviser, 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.

Spam reported

allan673

Yes Its The Best Fixed Rate Product Around,(fixed Rate With Offset Facility) My Financial Advisor Couldnt Beat It And Has Told Me To Go For It.
I Rang First Direct Yesterday And Have It Agreed In Principle, Im Just Waiting For The Paperwork To Come Now And Sign. Im Using It As A Repayment Mortgage.i Opted For The 5 Year Fix At 4.99%, I Have To Pay £299 Booking Fee And £99 Valuation, The £299 Arrangement Fee Is Added To The Mortgage - Or You Can Pay That Upfront Too.
They Were Great On The Phone And Explained Everything In A Common Sense Way.

sexy_fufu

If i applied for this mortgage would which would i be better of doin.

Taking out 52k over 15 years which results in the repayments £414.53

Or

Taking out 52K over 19 Years Repayments are £372.22 and then overpaying £40 per month.

Also does anyone know when this offer is till, I am with Nationwide and tied in till 31st May.

Gambler

sexy_fufu wrote: »

Also does anyone know when this offer is till, I am with Nationwide and tied in till 31st May.

I am in the same position as you i.e. tied in till 31-May and have also asked the same question earlier in this thread.

Anybody know?

KTF

Even if you are tied in till may, many new deals can be reserved months in advance. Call FD up and ask them how long in advance it can be booked.

ixwood

With rates wiodely ecpected to drop another .25 at least soon, is it worth holding on?

dimbo61

hi all offset mortgages do seem confusing but by offsetting the £10,000 in
HANGOVER,s example you would pay the mortgage off a couple of years early
This would save you interest over the longer term.
You are paying more off each month which takes a larger proportion of your take home pay but you can save thousands of pounds of interest !
GOOD LUCK

jedimonkey

I had a look at this too. But I require approx 90% LTV. I think they only will accept up to 80% - is this generally a strict limit? or is it worth an enquiry?