Best fixed rate deal?

Danstable

Best I've found (been told about by a forum member) is First Direct at 5.29% over two years but the fees are £1,500 in total. They have an alternative at 5.79% with just £99 fees and the two work out at almost exactly the same cost over the two years. Of the two I would choose to have the money in the bank (offset account) and go with the 5.79%.

Anyway, to my point, is there a better fixed deal out there at the moment? Calculations should include fees, not just percentage rate. We are in a strong position with 56% LTV and 2.5 income multiple so pretty much any offer out there should be open to us.

Thanks in advance,

Dan

Gloster_Advise

Hi Danstable,

Sounds as though you are a prime client. Depends really on your current mortgage balance whether you take a hit with the higher arrangement fee.

Why not go to HSBC on their rate matcher if you are trying to go through First Active as they have extended this until end of June.

Regards
Si

Danstable

Thanks for the advice but one bit of info I neglected to mention is that it's a new purchase. Both my partner and I have properties that we will be keeping so we are not classed as first time buyers as far as I'm aware.....although we are not ina chain.

Out of interest, will HSBC match a buy to let fixed deal?

Gloster_Advise

Danstable,

Good question though!!!

I very much doubt they would offer you the BTL as that mortgage is no ending I presume?

The FTB status would not have affected you much anyhow.

As I mentioned the 5.79% £99 is not bad at all.

herbiesjp

You need to double check that HSBC are ok with the two BTLs in the background and they are happy that your rental income on those properties is sufficient to cover the BTL mortgage payments