Deep Singh

Hi guys. Just realised my mortgage has flipped from fixed to base rate and doubled!!!

Does anybody know of a site that simply states the current best deals for fixed/discounted etc. Like the little table they give in the Sunday papers.

What is the best 2-3 yr fixed at the moment with no extended tie in??

Thanks

Deep

Matt P

www.moneyworld.co.uk or www.fool.co.uk

ChrisB

http://www.moneysupermarket.com/
http://www.moneyextra.com/

Chip

Nationwide are doing(or were last week) 4.69% fixed for 2 years with no ties.

Chip

Patt@firstime

Alliance & Leicester have a 2 year fixed at 4.64% with 2 year ERC. Product code 9481 if you want it.

HTH

Matt

Deep Singh

Thank you, on the case.

Moral of the day; always open your mail on time!!!

moses

deep u gonna get a repayment or a interest only

moses

by the way if u were a welsh guy in wales u could have got an islamic mortgage

u pay like rent and they take a 4 % commision from the 440 or 500 a month u pay
the rest goes towards your mortgage

fast bloke

no free legals with that one - nationwide have bext fixed rates at the mo and best completely free discounted deal.

Scooby-Doo

Have you tried a new deal with your existing lender ? Consider that if you don't you will have 1-3 months on variable before you switch that may make a new deal with you existing lender cheaper than a competitor although the monthly payment is lower.

Good luck

Chip

Moses,

Why just Welsh people. Why not Scots or English.

Chip

Patt@firstime

Serves me right for spending 20 seconds searching

Deep Singh

Existing lenders best quote is 5.99 fixed for 3 years. Just a £375 admin fee.

Will it really take up to 3 months?

Deep Singh

Can someone answer this.

Lets say I have a £10k mortgage. Rather than remort,I have £10k in the bank and decide to pay it all off. In a years time I decide I want to invest somewhere, this might be property abroad or shares or start up etc etc. Will a bank relend me the £10k(assume my house is worth £20k) with no questions asked ie no restrictions/covenants on how I spend the money?

fast bloke

You mean you don't know all these off the top of your head


btw - DS - It could take anything from 3 weeks to 6 months. Unfortunately there are solicitors involved

Deep Singh

Can anybody answer this?

Suresh

3 year fixed is 3.20% from my lender and 2.20% after employee discount.
Tax relief on interest reduces that to about 1.25%.

I plan to refix for 10 years @ 4.30% gross, 1.80% net when my current fixed period ends in September,

Oh, all the above is in "worthless" Euros, though....

HTH

Suresh

Deep Singh

Where do you live Suresh????

moses

coz a welsh c;unt started it so he does it only for the welsh for some reason its sad coz its only a 20 quid commision i think for 500 quid rent paid towards your home only thing is i think u need to put a bigger deposit something like 20 or 30%

Suresh

Holland, Deep.
Work for a big bank over here, hence the good discounts! Probably shouldn't mention the dirt cheap car insurance premiums either

Hope you are still not smoking!

moses

suresh i would luv to get a good mortgage from u but if u give u my details u probably send it to the cia and get me to guatanamo bay by planting something on me haha

mwp

known in the trade as "payment shock"

slipping into SVR is where they make the money on the discount/fixed term you've just enjoyed.

Deep Singh

Suresh, no not smoking. Wish I worked for a bank, all my employer gives me is high blood pressure.

Moses,you'd probably be refused entry to Guant bay!

Payment shocker is the right word!

Deep

fast bloke

You could do this and then simply remortgage when you need the money. Should be no problmes as long as you are earning (in this case) at least 2.5k

They wont care what you do with the money at 50% LTV.

BTW - Moses is talking crap about the Welsh thing. You can do it in any country, and it isn't actually any cheaper. Basically the bank buys the property and rents it to you until you have paid them a pre agreed amount of rent, at which point they sign the house over. The only reason for this is that islamic law apparently forbids paying or recieving interest.
There are not many (if any) Ijara remortgage deals on at the minute

Patt@firstime

Unfortuately no, out of 15,000+ schemes I cant remember them all.

Typical IFA whos got 4 schemes to choose from

Matt

fast bloke

4.... as if..... 17829 to be precise (although to be fair there are three of these that I haven't used )

moses

lol not when i tried to apply it was in wales only the branch for the welsh natives as far as im concerned thats the only branch so far in the uk unless their opening another one

and yes its alot cheaper 20 quid commission from 500 rent i say thats very cheap

Patt@firstime

fast bloke

whoever explained it to you didn't explain it properly - there are two type... in the first you agree the purchase price.. say 100k. The bank then purchases the house and immediately sell it to you for 203k in this case, and give you a mortgage with 0% interest. Strangely enough, if the bank gave you a normal mortgage of 100k at SVR, the total amount you would pay would be 203k. You simply pay off the 203k over the normal 25 years. At the end of the day you haven't paid or recieved interest.
On the second type, the bank buys the property and leases it to you for 25 years. Over this period, the total you pay for the lease would be 203k. At the end of the lease the bank 'gifts' you the property. These are good systems to get round a particular problem, but in either case, you can't be a rate tart and change your mortgage every 2-5 years. If you decide to move house you have to stay with the same lender as they aither hold the lease or you will lose out big time on the inflated purchase price required to offer 0% interest. At the minute HSBC, West Brom building society and Bristol and West all offer islamic mortgage products across the UK

Deep Singh

Thank you

Deep