O/T - mortgage interest rates

Ragnarok

Ragnarok

Well-known member
I got a five year fix at 1.65% today which seems good imho

What's the best deals you have had and how do you see rates going thr next few years?
 
Fixed ours at BoE base rate +0.24 % shortly before the financial crisis. One of my better decisions.

It was for life of mortgage, no tie-ins and no fees so wasn't a difficult decision to make.
 
bollieboy said:
Fixed ours at BoE base rate +0.24 % shortly before the financial crisis. One of my better decisions.

It was for life of mortgage, no tie-ins and no fees so wasn't a difficult decision to make.
Click to expand...
I got the same 23yrs ago, been cheapest money I'll ever borrow, could just pay it off but @ 0.35% why would you?
 
Im stuck on what to do. I'm on a variable which I obviously want to change to a fixed rate soon. Some of the charges are around a grand though. I know I'll still save money
 
What is the going rate % these days? I guess 25yrs is no longer the norm? I worry for little Lime & the future
 
bollieboy said:
Fixed ours at BoE base rate +0.24 % shortly before the financial crisis. One of my better decisions.

It was for life of mortgage, no tie-ins and no fees so wasn't a difficult decision to make.
Click to expand...
WOW...That has to be the best mortgage deal I have ever seen in 30 years......whoever got that deal for you...can I have their number.....
Even a 20 year term on a £150k outstanding balance would only earn the lender £450 a year.......That is insane.
I'm looking for a mortgage for my daughter and her boyfriend and even using an advisor, the best they can get is 2.55% with 85% LTV
Banks and building societies don't seem to be lending at the moment unless you have a A+ credit rating with a 30%+ deposit.
Even remortgages are getting knocked back by new lenders unless you have 40% equity......
 
Lewis_Winthorpe said:
Im stuck on what to do. I'm on a variable which I obviously want to change to a fixed rate soon. Some of the charges are around a grand though. I know I'll still save money
Click to expand...
Speak to your existing lender. My fix was ending in September and I did a whole of market search then rang mine (Coventry BS) and they offered me 1.65% fixed for five years NO FEES TO PAY. After that I only have 3 years left so I've also set my repayments 50 quid a month above the actual repayment to chip away at the overall total.

Mines based on 48% Ltv
 
Ragnarok said:
Speak to your existing lender. My fix was ending in September and I did a whole of market search then rang mine (Coventry BS) and they offered me 1.65% fixed for five years NO FEES TO PAY. After that I only have 3 years left so I've also set my repayments 50 quid a month above the actual repayment to chip away at the overall total.

Mines based on 48% Ltv
Click to expand...
We're with the Coventry as well. Similar rate. Been keeping the payments the same from when we were paying around 6% so steadily eroding the overall total.
 
Ragnarok said:
Speak to your existing lender. My fix was ending in September and I did a whole of market search then rang mine (Coventry BS) and they offered me 1.65% fixed for five years NO FEES TO PAY. After that I only have 3 years left so I've also set my repayments 50 quid a month above the actual repayment to chip away at the overall total.

Mines based on 48% Ltv
Click to expand...
Thanks will give that a go
 
B_Side_The_C_Side said:
WOW...That has to be the best mortgage deal I have ever seen in 30 years......whoever got that deal for you...can I have their number.....
Even a 20 year term on a £150k outstanding balance would only earn the lender £450 a year.......That is insane.
I'm looking for a mortgage for my daughter and her boyfriend and even using an advisor, the best they can get is 2.55% with 85% LTV
Banks and building societies don't seem to be lending at the moment unless you have a A+ credit rating with a 30%+ deposit.
Even remortgages are getting knocked back by new lenders unless you have 40% equity......
Click to expand...
I was a rate tart and changing mortgage every 2 years. I was with the Woolwich and they wrote to me before my temporary deal came to an end with the offer. I rang my mortgage advisor who didn't believe it until I showed it him. As you say there is no incentive to pay it off (and I have managed to extend the term!) but we were looking to move a few years back and if we had done that would have been the end of it.

We took another mortgage out against our house to buy a 2nd property and currently pay 1.88 % on that which for a 1 year fix. We might sell at end of term so generally have only be doing one year deals.
 
B_Side_The_C_Side said:
WOW...That has to be the best mortgage deal I have ever seen in 30 years......whoever got that deal for you...can I have their number.....
Even a 20 year term on a £150k outstanding balance would only earn the lender £450 a year.......That is insane.
I'm looking for a mortgage for my daughter and her boyfriend and even using an advisor, the best they can get is 2.55% with 85% LTV
Banks and building societies don't seem to be lending at the moment unless you have a A+ credit rating with a 30%+ deposit.
Even remortgages are getting knocked back by new lenders unless you have 40% equity......
Click to expand...
I used L and C a few months ago- free to use them as they get commission from the bank, and they found a few good 3% with 5/10% deposits.
 
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