Mortgage Rates!!

[namsag]

Gasman . took it out at 22 paid it off at 38 so 8 years mortgage free. Always pay more if you can that way paid of quicker(obviously) but if rate rises and you cant afford to pay extra at least you are used to paying a higher rate

 

[Doc Lenny]

Can you all say when you got these deals please !!

Didn't dare say anything in case they got over subscribed and pulled it.

Spoke to the HSBC guy and started to go through the app. I said that I was keen to get it sorted that day as it may get pulled, he said that they never pull deals (unlike some other banks) He rang me the next day and told me that the deal would be pulled at 5pm that day and we better get it done. We did in principle

Think the Rock should of had a transitional period of decent rates for all of us on the hunt for a respectable deal.

 

[GasMan1965]

You must have had a not so big mortgage namsag

Im trying to make sure Ive got a good deal Doc !!

 

[jeffreyw]

thats what im thinking od doing paying mortgage off early paid 15 grand of all ready in 2 years
bit of security for the family got a deal where you can pay up to 10 percent off only got 67 grand left to pay as got loadsa equity in it
but i aint got no pension
gona look at my options when paid off mortgage for my old age money

 

[namsag]

It was big in its day gasman but common sense prevailed and i was on good money, why pay all that extra money in interest over 25 years.
They used to say £5 a month extra on a 20k mortgage over 25 years took 3 years off it.
And never took out endowment, straight repayment, its funny now how all those mates who told me i was a halfwit are now refinancing to pay off the shortfall so much for there lump sum they all thought they where going to get
Two words gullible and greed

 

[GasMan1965]

Damn Im so behind,, I still got 21 yrs

Then again I had to re mortgage to pay the ex off

 

[NS215]

just completed my remortgage with the abbey last week and got it at 5.99 tracker for 2 years with 999 quid set up fee,free legal and 175 for survey

 

[Nige F]

And never took out endowment, straight repayment, its funny now how all those mates who told me i was a halfwit are now refinancing to pay off the shortfall so much for there lump sum they all thought they where going to get
Two words gullible and greed

well said, I @ the salesman way back when he said we`d get a lump sum..got lucky in the last crash ...bring on the next one , we`re downsizing now.

 

[garyslater]

I have just remorgated - waiting for completion. Managed to get 5.66% fix for two years with Cheltenham and Gloucester - there was a fee of £1000. My previous fix was 4.89 with Alliance and Leiscester

 

[GasMan1965]

I have just remorgated - waiting for completion. Managed to get 5.66% fix for two years with Cheltenham and Gloucester - there was a fee of £1000. My previous fix was 4.89 with Alliance and Leiscester

Can I ask how much your borrowing and when did you sign the paper work ??

 

[garyslater]

Gasman - sorry I dont know how to do the quote thing: Just over £200000. The official loan offer was signed about a week ago and the application process started about three weeks ago. It is possible the deal has been discontinued.

 

[GasMan1965]

bout the same as me in amount,, Im just making sure Im getting a decent deal mate

My advisor came by yesterday and I signed the proposal then so Im a few weeks behind you probably ,,, seems like the rates are goin up the longer its left

 

[AtoZ]

on a two year deal, it worked out cheaper for me to pay the next rate up rather than pay the arrangement fee.
i know this wont be the same for everyone but it saved me over £200 and i have the 1000 still in my bin.
worth looking at.


on a mortgage of 100,000 or 200,000 how much actual difference does it make to the cost of a monthly bill to have say 5.99 rather than 6.1?
i know i can work it out but ive want a mortgage where i can overpay in small amounts rather than in lumps of £500. also to borrow some more if i wanted to extend, things like that.
is it the money or is it that you just feel good about the figure!

like i said, the lower rate actually cost me more over two years.

 

[BarkingMad]

Had 4.24% fixed which ended on Jan 31st with The Chelsea. Re-mortgaged with them on a Tracker at Bank of England Base Rate -0.26% for two years. OK, so the arrangement fee was a whopping £1,595 but I didn't see the point in fixing when rates seemed to be at a peak so went for the tracker. Did the maths and even with the arrangement fee being so high it was still the cheapest option over the 2 years compared to the other options.

Rates have come down twice since then and will hopefully fall again a couple more times this year.

That's on a £125k mortgage on a £200k property but they'll do it for loans of up to 90%.

 

[jeffreyw]

just bought new house and took my mortgage with me to save money as my rates were cheap as hell 3 year ago
i saved on fees as i carried on my mortgage so i thought u til i got a early repayment charge even though im taking it with me con or what 1600 quid