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  • FIRST POST
    • Beatle Ray
    • By Beatle Ray 10th Jan 18, 11:37 AM
    • 151Posts
    • 38Thanks
    Beatle Ray
    Is this a good deal
    • #1
    • 10th Jan 18, 11:37 AM
    Is this a good deal 10th Jan 18 at 11:37 AM
    Hello,

    My current mortgage deal with the Halifax is coming to an end at the end of this month, in the first instance I went to a broker to see what he could get me, at the moment the deal with the Halifax is 2.1% which has been over two years and the payments are 836 pm, I make over payments of an extra 80pm, the following is what I have been quoted,


    2yr Platform 1.69% 914.52 NoFees

    3yr Barclays 1.79% 920.29 NoFees

    5yr Coventry 1.99% 931.89 NoFees
    The % is lower in every case but the repayments are higher, should I take one of these or go back to the Halifax and seek a replicate deal?
Page 1
    • YHM
    • By YHM 10th Jan 18, 12:03 PM
    • 537 Posts
    • 198 Thanks
    YHM
    • #2
    • 10th Jan 18, 12:03 PM
    • #2
    • 10th Jan 18, 12:03 PM
    If the interest rate is lower, but the repayments are higher, than the mortgage term (length) has been changed.

    Halifax wont rate match, and they aren't particularly competitive at the present either
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • Beatle Ray
    • By Beatle Ray 10th Jan 18, 12:43 PM
    • 151 Posts
    • 38 Thanks
    Beatle Ray
    • #3
    • 10th Jan 18, 12:43 PM
    • #3
    • 10th Jan 18, 12:43 PM
    Thanks YHM, I hadn't changed the term time, there are 13 years left currently unless he did that without telling me, would it be that with the slightly lower % that i'm actually paying more, 836 currently as opposed to 914 for the two year deal?
    • YHM
    • By YHM 10th Jan 18, 2:21 PM
    • 537 Posts
    • 198 Thanks
    YHM
    • #4
    • 10th Jan 18, 2:21 PM
    • #4
    • 10th Jan 18, 2:21 PM
    What figures are you basing it on. Valuation and Mortgage balance. I'll have a look
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • Beatle Ray
    • By Beatle Ray 11th Jan 18, 1:49 PM
    • 151 Posts
    • 38 Thanks
    Beatle Ray
    • #5
    • 11th Jan 18, 1:49 PM
    • #5
    • 11th Jan 18, 1:49 PM
    128,000 mortgage balance and house valued at 391K
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