best fixed rate

pascal_2

Hi, I need to remortgage soon as my current deal ends this month. I'm looking for the best 2 year fixed rate I can find and would appreciate other users views. My mortgage is about £126000 with 23 years to go and my home is worth about £240000.

I've tried the comparison sites but not one of them has come up with the same result which is a bit of a nightmare and I gave up on moneysupermarket as the site keeps opening lots of new windows which unbearable on dial up.

I think the best deal I've found so far is through https://www.mortgagegenie.co.uk which shows the abbey as my best option with a fixed rate of 4.29% and a set up fee of £499, free survey and no solicitors fees to pay and a commission rebate of £189. My monthly payment would be £718.95.

I begrudge paying the arrangement fee but it seems like my best option? Am I missing anything better?

pascal_2

Thanks for private message herbiesjp. Sorry it's taken me so long to get back to you as my pc's been broken.

With the delay it looks like I missed the 4.29% deal but I like the sound of the 4.39% you mentioned with a 299 set up fee. Is it the abbey deal?

Are there any other 2 year rates I could/should consider? I really need to sort something out very soon as I've only got about 10 day left on my exisiting deal.

Hope you don't mind me replying here as I thought it may be useful to others.

Thanks in advance.

herbiesjp

No problem at all.

As has been written many a time, advisers have to be more careful than most when giving names of scheme/rates etc on the open board, so as not to be construed as giving advice hence the pm

payless

I would suggest that PM's sent unrequested giving this info could also fall foul of regulations (although not saying Herbiesjp's was unrequested in this case)

herbiesjp

Thanks Payless- point taken

As you well know being an adviser yourself, when wanting to help on the board, it is not the easiest medium at times, for want of not breacing any rules being FSA or board rules - hence the clarification on the board and also me pointing it out on the board

Chris1234_2

there are one or two cheaper monthly rates but arrangement and valuation are still there.Perhaps getting a mortgage broker to look at your situation would give you a far better idea on what's available. this medium can give a very misleading view, which could give rise to you wasting hours completing forms and affecting your credit rating if you apply to too many lenders.

Joe_Bloggs

As a non financial advisor and total amateur am I bound by the fsa or anybody as to what I can say or not say regarding financial products ? Should Martin in his new TV series have some warning issued regarding the financial advice he gives ?

I don't need to come round to explain the way I feel and charge you for the privalege. Is this medium that misleading given what is written is under the scrutiny of other contributers ?

My view is that those involved on this forum should educate themselves in financial matters and that they should not become mere zombies of any financial advisor. You have to be in a knowlegable position to receive advice and take onboard the likely effects of any decision in my view.
J_B. (Just my thoughts.)

neenee2

Hi All
I have been advised by my mortgage advisor to take very good deal from Abbey that is 0.14% above BOEBR for two years and £299 set fees and £250 cash back on completion. it sounds good to me. any suggestions,

neenee2

Sorry
the above deal is for remortgaging

payless

Joe_Bloggs wrote:

As a non financial advisor and total amateur am I bound by the fsa or anybody as to what I can say or not say regarding financial products ? Should Martin in his new TV series have some warning issued regarding the financial advice he gives ?

I don't need to come round to explain the way I feel and charge you for the privalege. Is this medium that misleading given what is written is under the scrutiny of other contributers ?

My view is that those involved on this forum should educate themselves in financial matters and that they should not become mere zombies of any financial advisor. You have to be in a knowlegable position to receive advice and take onboard the likely effects of any decision in my view.
J_B. (Just my thoughts.)

Communications by journalists contains a specific exemption for journalism

a read thro' the 200+ pages of http://www.fsa.gov.uk/pubs/hb-releases/rel35/rel35auth.pdf gives further guidance, in particular to the " By way of Business " rule relating to regulated activities. One way of looking at it might be that means if someone posts who is not in the business ( or receives financial inducement from someone who is) then it is likely that it would not be classed as regulated advice - a bit like telling someone in the pub...., although given the exposure it would receive here I am not sure !

IMO those of us that are in the business , should be aware of the rules , and I would suggest that most regulars do seem to adopt an acceptable balance of passing on our financial knowledge , whilst not breaching financial promotion regulations.

I agree that people should be aducated in financial matters, but that of course should not mean that they can't avail themselves to the services / products of a professional

http://www.fsa.gov.uk/consumer/ is a good starting place.

Joe_Bloggs

I'm sorry to Chris for any offence I may have caused. I realise that you need to get all the facts to do your job. If you are a genuine moneysaver then you will researxch things yourself and to some extent bypass the financial advisor. There may be ways to split the fees/incentives given to financial advisors so you can rake back some of their action whilst taking full advantage of their inside knowledge and access to deals not available to the public.
Am I too cynical with my desciption of the situation as I see it ?

The journalism get out clause does explain a lot of financial tosh that is written. Where do bloggers stand and other people with opinions ?
Many thanks to Payless who has supported this forum with years of insightful contributions.
J_B.