Threaders

m.colak

Just to let you all know the shortfall on the documentation was £819.05. Phoned BM this morning and the difference in the statement was £776.05. Thats right the actual shortfall is £43 which is including the £20.05 for being over one day!!!!

So quick summation of what deal i had and what its changed to:
Original Mortgage
Term: 25 yrs or 300 payments
Amount £108000
18 months fixed rate Paying £682.18
variable 1.49% above BOE
Therefore last payment was approx £770
Number of payments made 20

New Mortgage
Term: 23 yrs or 276 payments
Amount £105000
120 monts fixed rate Paying £672.10 (5.39% for 10 yrs)
variable 1.49% above BOE
Cost of Remortgage: £270.26

Guys what do think of the deal?

luckyfool

m.Colak - surely this is water under the bridge at this point. You are already in the deal so whether it was brilliant or rubbish is almost by the by at this point?

As it happens that is looking like a pretty good rate in the current market, though obviously not for everyone due to the long tie in period.

m.colak

luckyfool wrote: »

m.Colak - surely this is water under the bridge at this point. You are already in the deal so whether it was brilliant or rubbish is almost by the by at this point?

As it happens that is looking like a pretty good rate in the current market, though obviously not for everyone due to the long tie in period.

You mis understand me I'm over the moon at my very first attempt at getting a decent mortgage and security for my wife and child that i succeeded, and didn't have to pay much. My first mortgage adviser charged me £250 for a product that ran out 2 weeks prior to exchange (new build) and I couldn't get hold of him to get a new product arranged and had to do it myself anyway. So £250 for nothing (although admittedly I can begrudge him for his initial work (man's got to eat etc.) because he didn't finish the job. Not including the solicitors fee's of £850. So overall £1100 minimum on my previous one compared to £43 this time. Who wouldn't be estatic. By the way the overall interest rate on comparision is 6.1% over the term (Not bad at all).

luckyfool

The overall APR is relatively meaningless as it assumes you will stay on their revert rate for the balance of the mortgage term. Having said that its a good rate.