Best Fixed Rate Deals Please

salsa1

I am lookng to change my mortgage at the end of September and would like some help on the best fixed rates available for either 2, 5 or 10 year deals.

Thanks

chudies

stealing from murray's post (cheers mate)

http://www.moneysupermarket.com/mortgages/BestBuys.asp?MortType=1

you can click at the bottom of the page for other deals

KTF

Posting my usual plug for the Nationwide fixed deals (with free legals) as they never seem to appear on the best buy tables!

http://www.nationwide.co.uk/mortgage/moving-your-mortgage/interest-rates-remortgaging-fixed-rate-mortgages.htm

waterbaby

How do these mortgage best buy tables work? I can find my way around a best savings rate table with no problems - but mortgages?

Do they just sort by interest rate? Or are there ones which do total cost? Who puts them together, and are they independent?

KTF

They tend to be sorted by interest rate rather than total cost as everyones costs will be different.

They are really to be used as a guide then you do some more research around the ones that you like to see what extra costs (if any) will be added on. Its a bit like a package holiday really

The majority are independant and get the information from places like moneyfacts, etc I guess. Broker only deals tend not to get picked up (for obvious reasons) so you have to go to a broker site (like L&C or Simply) to find them.

MortgageGenie

I find moneysupermarket less user friendly than it use to be. It's probably down to the fact it's a lead generation service for brokers so their business model doesn't really want users to find the best deals and go direct to the lender as they make their money by selling users details to brokers.

Personally I think moneyfacts is better. I don't think they pay any affiliate commission through so that may be why it's not as widely promoted across the web.

Best thing to do is try them all and see which you prefer.

salsa1

My current mortgage is with Coventry BS.
They are doing a 5 year fixed at 4.85% and then =.75% base rate tracker for term.
Costs £199 admin fee and £399 arrangement fee.

What do you think?

KTF

salsa1 wrote:

What do you think?

I think it might be worth looking at the Nationwide. 5 years @ 4.69% with a £395 fee, £95 admin fee and free legals looks better than the Coventry offer (excluding discharge fees).

Other deals mey be more suitable for your needs so always consult an IFA before deciding.

Ian_W

Salsa,
I'm in the same boat with Coventry BS, coming to the end of a decent discount rate on 30/9. The only other benefit of their Flexx scheme is that there are no early redemption penalties [very unusual with fixed rates from what I've seen]. That may be useful to get a reasonable fix now but not be penalised too much if interest rates go down a bit more within the 5 years and you want to change.

I'd be on my bike to another lender [probably Nationwide] but it's not going to be feasible until nearer the end of the year due to our particular circumstances so I'm stuck on preferential SVR for the time being [No doubt I'll be drummed out of the MSE forums for such an admission!!].

crusher_2

I have been scouting around for the best 2 & 5 year fixed rates over the last week. I have 16 years to run with a balance of £62000. Best deal by far for me is the Halifax 2 year fixed @ 4.39%, fee of £299, free legals and valuation. Best 5 year seems to be Alliance & Leicester. Can't beat the Halifax deal anywhere unless somebody else can???

KTF

crusher wrote:

Can't beat the Halifax deal anywhere unless somebody else can???

Assuming you are not already with the Halifax (as existing borrowers cant get this product) then its a good deal. Nationwide offer the same rate but have a higher fee.