Will 5yr fixed rates improve if interest -0.25% next week?

dweeby

lisyloo wrote: »

allow about 1 hour for the phone call.

Here I am back after an hour on the phone to Tim at First Direct, as I managed to call an "apply now" number and get straight through.

The First Direct deal is actually quite incredible:

1. 4.99% fixed for 5 years, cheapest I've heard of or seen.
2. Any amount of overpayment, anytime, no charges.
3. £200 valuation fee (vs Cumberlands £260).
4. £598 total set-up fees (vs Cumberlands £795).
5. Your only committment is for "interest only payments", so in times of emergencies you have options.
6. You can draw off what you've paid off. So if my employer closes in 2 years and I can't meet any payments, I can use the amount paid off to stop the house re-possesion.
7. Mortgage is off-set against any balance, so hopefully you'll pay less interest than quoted.

Could be just the ticket...

TighterThanTwoCoatsOfPain

well done for getting through!

I'm with FD and there service ha sbeen flawless for the 10 years i've been with them..

I rang up last night to talk about this deal and got through to a chap who said he was in the temporary team of people they had thrown together in order to answer calls, as there mortgage team had been inundated due to the recent offers.

No wonder too i reckon! I'm waiting a call back to confirm how far in advance you can reserve this deal as not due for 4 months.

Rates aside, i cant see anyone offering such flexible terms with such small fees in 4 months time so would be more than happy to hook into this now if they will allow it!

ds1980

there 10 year is only 5.15% same fees etc

wish i was remortgaging!

Sunday_Morning

adr0ck wrote: »

bank of england are simply going to ignore inflationary pressures.......or change the way inflation is calculated so it looks like their not ignoring inflationary pressures

we will soon find out how independent the bank of england is!!!!!!

The Bank of England has its independence, its just that the Inflation Rate to which they respond is fixed!

Basically the price of goods we NEED have been rising steadily over the last few years while the price of goods we don't need have been falling and helping to offset this. As belts tighten, the household budget is more restricted to the things we need and we are more exposed to those sectors of the economy where inflation is at its most rampant. But it wouldn't do the Government any favours to reflect this in compiling their list of goods upon which inflation is based.

I'd love to see a straightforward comparison. I saw something last year to the effect that while the price of a standard loaf of sliced white bread rose only 2p between the years 1993-2003, it rose 27p between 2004 and 2006. But think of the money that we've saved in computer games since then!!!

Gonzo

It seems a good deal, but you can only reserve that rate on a first come, first served basis. Unless you pay the £300 fee you can only join a 'pool' of people wanting it. If you don't need the mortgage for a few months they could be 'sold out'.

Would be okay but the fee only reserves the rate for 4 months (maybe 6, can't remember) So if your house takes more than 4 / 6 months to sell.... you're back where you started.... but £300 notes lighter.

The flippin' strings, they get everywhere!!

curlyboy

HELLO my fixed rate is up, in Oct 2008 4.39% five years ago with halifax, im on a SVR @ 6.16 % for additional borrowing ( £24,000 ) shall i move the 24k which im paying at 6.16% twith the halifax to first direct @ 4.99 - what would i be saving please advise how do i go about it - great guys keep up the good work