Chelsea mortgage deals - Shhh?

ReportInvestor

4.65% fixed rate
5.49% self cert

How do these deals compare with the competition?

I only ask because the Chelsea have a £200 offer if you "recommend a friend" who takes one up. Should MSErs keep their mouths shut?

Xbigman

You need to look beyond the headline rates of interest.

Is there an extended tie in on the fixed rate? A low rate for a few years followed by a high rate with fees for transfering at the end of the tie in can be very expensive.

Why is the self cert interest higher? Because the failure rate on those type of mortgages is higher.

Think twice before recommending a mortgage to someone unless you really know what you are talking about.
Regards



X

Scott

Yeah, I'd avoid anything along that line, purely because if it goes badly, the person that you recommended the mortgage too might take it personally with you!