Nationwide or Lloyd TSB,pls help.

mrsbudget

That's right,,have to really get the best rate,,but where will I start? please? Should i go from one bank to another and make appointmenst with them or where will i see the comparison of who's gonna give me the best one?

Sorry about this, am just panicking now,,as if the more I know, the more Im confused...

mr_mortgage

mrsbudget wrote: »

That's right,,have to really get the best rate,,but where will I start? please? Should i go from one bank to another and make appointmenst with them or where will i see the comparison of who's gonna give me the best one?

Sorry about this, am just panicking now,,as if the more I know, the more Im confused...

Do you have a vague idea what you are looking for? i.e. a fixed rate, or a variable one? Are you willing to pay a bit up-front (application/booking fees) in order to get a better rate?

If you know the answer to the above, head off to barclays.co.uk, hsbc.co.uk and all the usual suspects. Have a look at the comparison sites too, but be aware that they don't carry every deal which is available to you.

I've been harping on about this for a while now, but if you are after a tracker (variable) and are looking to borrow 90% or less of the property there's really nobody to touch HSBC at the moment.

I know you are looking to complete this in about 4 weeks, so why don't you gather the things that you are going to need for any mortgage so when you decide what you want you are in a position to get through it as quickly as posisble. Some things you might need:

• Passport
• Driving Licence
• Last 3 wage slips
• P60
• 3 years accounts (self employed)
• Existing mortgage details
• Existing loans and credit commitments
• Bank statements (3 months)
• National insurance number
• Details of any credit problems
• Existing life/income protection

luckyfool

mr_mortgage - If they are looking to complete in 4 weeks then HSBC are not a realistic option. I have a client where it took nearly 3 weeks to get an initial appointment and another week for the 2nd appointment to complete the forms (and this is recently).

mrsbudget

Oh! Dear!! well, i think i will try to contact HSBC and see what they say..

But folks, am still open to your suggedtions...It's for £90,000 remortgage, value of property is £220,000. Either a fixed rate for 3 yrs or tracker..whichever you think would be best for me.

Thanks all!!

_Andy_

HSBC are very competitive (at the moment) so if you're willing to wait a couple of weeks for it to complete then go for it.

luckyfool

If you are willing to look at slightly longer term deals then there are some good 5 year fixed rates out there.

These are proving popular just now with the volatility in the market with many people wanting to just lock down a decent long term rate.

payless

i think i will try to contact HSBC and see what they say..

Yes HSBC are competitive although not always the best on rate- even for term trackers ( and service sounds dodgy also)..

But folks, am still open to your suggedtions...
Either a fixed rate for 3 yrs or tracker..whichever you think would be best for me.

I find this a worrying outcome :-
but suppose thats what you get if looking for a free lunch ( whether that be via a commisson only products broker OR internet forums-) sorry saying " whichever you think would be best for me" on an internet forum - sounds like you need professional advice !

mr_mortgage

luckyfool wrote: »

mr_mortgage - If they are looking to complete in 4 weeks then HSBC are not a realistic option. I have a client where it took nearly 3 weeks to get an initial appointment and another week for the 2nd appointment to complete the forms (and this is recently).

That is a long time. I, myself, just re-mortgaged through them. Dropped into the branch, had an appointment sorted for later that day, all forms signed the next day, booking fees paid and surveyor booked. That took a while, but my fault because I was away on business and couldn't have the surveyor around for a couple of weeks.

Tiddler_2

Do HSBC ask you to pay the booking fee up front? Rather than adding it to the mortgage?

That might put some people off.

You could also look at Nationwide's 3 year fixed rate at 5.75% with a £599 fee which can be added. This is only available direct, from Nationwide though.

The majority of economists are not predicting any interest rate cuts in the near future (though these thoughts tend to change every other day!!)

mr_mortgage

Tiddler wrote: »

Do HSBC ask you to pay the booking fee up front? Rather than adding it to the mortgage?

That might put some people off.

You could also look at Nationwide's 3 year fixed rate at 5.75% with a £599 fee which can be added. This is only available direct, from Nationwide though.

The majority of economists are not predicting any interest rate cuts in the near future (though these thoughts tend to change every other day!!)

You need to pay it up-front. However, you could take a bit of extra borrowing to cover the cost of it ... but of course you'd only receive those funds post-completion, so you still need to be able to come up with the booking fee at first.