Have to make a decision... help!

linsford

Hi,
We've just been called back by L+C and they've recommended a 5yr fixed deal 6.19% with Bristol and West (free valuation and no arrangement fee), but when we just searched online we found the Skipton 2yr fixed deal 5.49% (220 valuation and 599 arrangement fee). We already have an offer in on a property for 105,000, have 5,500 as deposit and are only looking at fixed deals as we're first time buyers and my partner is the only applicant. Feel like we're working against the clock and don't know what to do!! Help!
Lindsey.

justme111

linsford wrote: »

Hi,
We've just been called back by L+C and they've recommended a 5yr fixed deal 6.19% with Bristol and West (free valuation and no arrangement fee), but when we just searched online we found the Skipton 2yr fixed deal 5.49% (220 valuation and 599 arrangement fee). We already have an offer in on a property for 105,000, have 5,500 as deposit and are only looking at fixed deals as we're first time buyers and my partner is the only applicant. Feel like we're working against the clock and don't know what to do!! Help!
Lindsey.

sorry it may not be of much help but I do not understand what your problem is.

So_Sad_Angel

Hi Lindsey,

Go to a lender that offers advice..also check out APR (basically this includes the fees so gives idea of which rate is higher overall) .Each lender will give a `key facts document` for each quote so comparison is easier...you should get one if not ..ask for one!

Also consider how long you want to be tied in ie- will you sell b4 the rate expires?, can you move the rate to a new property if you do? , penalties if you sell early? All these have bearing on length of deal. Usually the shorter the term, the lower the rate. My advice is to `get advice`..I`ve been in mtge sales many years & ask as many questions as you need from potential lenders.

Hope this helps, Cheers Angelx