ScoobySnack

Now at the end of eventually moving house..........

Before I sign on the mortgage dotted line does anyone know of any better fixed rates out there for a 95% mortgage.

I've found:

2 years 4.39% with Northern Rock
5 years 5.34% with Yorkshire BS

Any help much apprieciated

J

carl

I presume you've looked here:
www.moneyextra.com
www.moneysupermarket.com
What you want is 'lowest total cost over 5 years, fixed (or capped) rate'.

Scott W

Unfortunately I cannot help here mate, but congratulations on finding a new house.

PSI3

J, i've just re-mortgaged with Northern Rock on a 2 year fixed rate of 2.29% with £500 cahsback.

simon

ScoobyJawa

Nice one J.

I'd be interested to know your experiences when its all over as I'll most likely be hunting for a new mortgage in feb 2003.

spider

iTrader: (1)

J, have you tried the Motley Fool site? http://www.fool.co.uk/index.htm You could get some useful stuff/opinions from there.

For those who don't know it's a BBS for anyone interested in looking after their own financial security.

Just remortgaging my place with Virgin One (Royal Bank of Scotland in other words - 5.2% (depending on proportion of loan amount vs value of house)

Cheers,
Steve

Phantom_Flan_Flinger

Also try http://www.thisismoney.com

Dave

MATTeL

Have you tried the Portman Building Society (still a mutual)?

I got 3.3% fixed for five yearswith two year tie-in at variable. That was a couple of years ago though...

rallycol

iTrader: (4)

Try www.mortgageseekers.co.uk they have nearly every bank and building societies up to date offers

druddle

J - nice one mate, is the new place local ?

I spent 3 months looking at mortgages and one thing to watch out for is that yes they offer you lovely low rate mortgages for 2 - 6 years, but look for the redemption period on them, i.e. the length of time after the discounted rate is over that you have to stay on the standard variable rate. If you settle the mortgage before this redemption period is over then you have to pay all sorts of cancellation fees, cashback and fees back to the lender. I got stung by that on my last mortgage (2 years discounted rate and then a further 5 yrs redemption).

It depends what you want, you can get good mortgages of all different kinds - fixed rate, discounted, tracker, capped, etc.

I wanted a mortgage that allowed me to pay lump sums back off the mortgage at any time with no penalty (i got up to 10% of the total mortgage per year), interest that was calculated daily not yearly and it had to be a discounted or capped rate that had no retention on it.

I went for the Woolwich Open Plan mortgage - at the time capped at 5.75% for 3 years with no redemption. You get a Woolwich B/S account and you can put your savings in it and the interest on your mortgage is discounted according to how much you have in your "savings pots", which is a good idea, although I am incapable of saving money !!! Virgin One is the same idea as the Woolwich Open Plan one aswell.

People like If (Halifax), Northern Rock and Nationwide are doing good packages at the moment, but just remember to read the smallprint. They have to make money somewhere !!

Dave

[Edited by druddle - 1/15/2002 1:53:57 PM]

madfiddler

Check out www.virginone.co.uk The rate isn't discounted but it's one of those flexible mortages. Basically means your next "car loan" is at the apr of the mortgage. Had mine for 2 years and am totally happy with it. Virgin customer service has always been good imho too.

john banks

I moved from Virgin One to Egg. Almost as much flexibility but a saving of over £1000 per year in interest at one time for me.

ScoobySnack

Cheers all

I've decided after reading all the links to go with a Northern Rock 2 year fixed at 4.39%... no tie in.

Also allows me to pay in 10% per year, 6 months redundancy cover, can choose my own insurance and indemnity premium is paid for you.

Thanks

J