Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • goodylee
    • By goodylee 5th Jul 18, 10:37 AM
    • 41Posts
    • 0Thanks
    goodylee
    Help on deciding a mortgage
    • #1
    • 5th Jul 18, 10:37 AM
    Help on deciding a mortgage 5th Jul 18 at 10:37 AM
    Hi,
    Can someone please provide me with some advice?
    Iím looking to buy a property with a mortgage taken out of £105k over either 25/30years.
    Iíve generally been looking at mortgages with £0 product fees and fixed.

    Firstly is fixed the way forward?
    My previous mortgage I got it at a good time and is now paid off, that was .5 above base rate.
    The best products I can see seem to be with HSBC.
    What would everyone suggest?


    25 YEARS
    2years 1.49% Initial Rate//ARPC 3.67%//£371.50
    3years 1.64% Initial Rate//ARPC 3.53%//£378.09
    5years 1.89% Initial Rate//ARPC 3.32%//£389.22
    10years 2.49% Initial Rate//ARPC 3.05%//£416.75

    30YEARS
    2years 1.49% Initial Rate//ARPC 3.71%//£320.52
    3years 1.64% Initial Rate//ARPC 3.60%//£327.25
    5years 1.94% Initial Rate//ARPC 3.43%//£340.96
Page 1
    • getmore4less
    • By getmore4less 5th Jul 18, 11:00 AM
    • 32,390 Posts
    • 19,462 Thanks
    getmore4less
    • #2
    • 5th Jul 18, 11:00 AM
    • #2
    • 5th Jul 18, 11:00 AM
    check the fee based products as well they can be cheaper over the fixed term.
    • foxy-stoat
    • By foxy-stoat 5th Jul 18, 3:53 PM
    • 2,188 Posts
    • 1,186 Thanks
    foxy-stoat
    • #3
    • 5th Jul 18, 3:53 PM
    • #3
    • 5th Jul 18, 3:53 PM
    Fix it for 2 or 5 years and once the brex!!!!! is over and died down fix for longer.
    • Neutrinno
    • By Neutrinno 5th Jul 18, 4:55 PM
    • 193 Posts
    • 89 Thanks
    Neutrinno
    • #4
    • 5th Jul 18, 4:55 PM
    • #4
    • 5th Jul 18, 4:55 PM
    Rates will only be going one way in future, would you prefer to have the stability going forward?

    Don't disregard fee products when they can work out cheaper over the fixed term and leave you with a lower remaining mortgage balance.
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Adviser, 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.
    • kingstreet
    • By kingstreet 5th Jul 18, 4:59 PM
    • 33,682 Posts
    • 18,267 Thanks
    kingstreet
    • #5
    • 5th Jul 18, 4:59 PM
    • #5
    • 5th Jul 18, 4:59 PM
    ... and on a small mortgage, fee-free and with a cashback on completion might just end up better value than everything else!

    The moral of the story is look at all options and weigh up the rate, the fees/cashback and the outstanding balance at the end of the fix.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

410Posts Today

5,586Users online

Martin's Twitter
  • Donald Trump has apologised and admits he said would when he meant "wouldn't" when siding with Putin over US inte? https://t.co/z1CRJSkEO1

  • About to watch #AckleyBridge on C4+1. I do enjoy it, even though I always feel somewhat stressed and depressed after watching.

  • RT @stevenowottny: 19/30 UK airports now charge you for spending 10 mins dropping someone off at the terminal - good investigation from @je?

  • Follow Martin