What is your current mortgage rate...

Little_Miss_Saver

My rate is 4.79% fixed for 2 years (ends July 09).

LMS xx

Starz_Ceilings

We have 5.69% fixed for 5 years. Comes to an end in May 2010.

Will be striking another deal then hopefully on a lower rate.

bunking_off

I guess it all depends on what is meant by "mortgage rate"....the headline one or the net one. I've entered the One Account headline, which puts me in the 6-6.5% range. But build in the stooze pot etc, net it's nearer 3.5%...

poppyoscar_3

Mine's about 6.09% I think, but that's an ultra-flexible, arrangement-fee-free tracker. i can overpay as much as i like, and it's only a small loan anyway.

PO xx

nrsql

bunking_off wrote: »

I guess it all depends on what is meant by "mortgage rate"....the headline one or the net one. I've entered the One Account headline, which puts me in the 6-6.5% range. But build in the stooze pot etc, net it's nearer 3.5%...

Did you remember to take into account the 6%-7% before tax that you would have got on the savings if you had a lower rate mortgage?

e.g.
200,000 mortgage @ 6% (12,000 / year).
100,000 savings means it looks like 3% (6,000 / year)
but in a 6% savings a/c you would get 6,000 on that money - 4,800 after basic rate tax so the actual rate for the mortgage should be 10,800 / year (only saving you 1,200) anad so 5.4%.

And that's without overpayments on the mortgage.

Of course it depends on the savings rates, mortgage rate and what you would do with the money if it wasn't in the one account. If you would have left it in the current account then the 6% would be valid. If you would have put it in an ISA then the rate would actually increase (but you should probably be maxing the ISA anyway).
Odd - I can't find the Natwest one rate on the natwest website any more.

missprint

Mine is 0.34% above BoE for the life of the mortgage, so now at 5.34%. However this is an offset mortgage and its 100% offset. So it makes no difference to my life what happens to the rate as I'm not paying any interest anyway.

hughmungas1986

We have a lifetime tracker with Barclays / Woolwich at the bank's base rate + 0.27%, currently 5.27%. No arrangement fee and unlimited overpayment's

hughmungas

Capricorn_One

hughmungas1986 wrote: »

We have a lifetime tracker with Barclays / Woolwich at the bank's base rate + 0.27%, currently 5.27%. No arrangement fee and unlimited overpayment's

hughmungas

Good deal, that one.

I've got 0.5% + BOE offset tracker with the Newcastle. Hoping rates will drop so I can remortgage to Barclays/Woolwich and offset my ISA. :A

Ed.

Spendless

1 year into a 7 year 5.39 fixed rate. The day we phoned up about it, the rate was changing the following day, so we took it. Initially I worried about tying ourselves in for so long, but am now glad we did it.

Overthetop

I'm on a NatWest offset at 6.20%