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getknk

Various Mortgages And Options

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Folks,

I've been to a mortgage consultant and was inquiring about various mortgage options in my area (SE) as an FTB
I've provided 20% deposit and in my name only ..

the offers gave were
1. Coventry BS - 3.69% Fixed 2 years and 4.90% later variable
2. halifax 4.21% and 5.20% later variable
3. Santander - 4.52% flexi ( i can pay additional or early payments)

I felt I got the rates higher than many people got.

Few queries I had
a. Can you please put the rates which banks offered?
b. How is it to go with a mortgage consultant?
c. Any tips to have better interest rates for FTB?
d. Any good calculator to analyse between the various options in long term?

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CAn you not just look on moneysupermarket.com? Those rates don't look good to me but maybe that's due to having a 20% deposit. Broker's can be worth checking with as occasionally those have exclusive access to particular products; a mortgage 'consultant' purely providing advice - I'd trust my own research more.

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Just lie....

i.e. Take out a


[size="5"][color="#FF0000"][b]MASSIVE LIAR LOAN![/b][/color][/size]

Pretty well everyone else has - even of they don't actually know it..... i.e. anything above 3 x REAL NON-LIAR INCOME [u][i][b]is[/b][/i][/u] a [color="#FF0000"][b]LIAR LOAN[/b][/color]...


How else are you going to "afford" a pwoperty in this bent "market"?? :rolleyes:

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Thanks for posting it is always useful to know the situation on the ground.
IRs on mortgages are going up recently so those rates look OK and certainly cheaper than many.
c ) bigger deposit getting to 25% should help but at 20% you already have most of the advantage to be gained.
d ) create you own in excel etc to compare offers, that way you can model changes in SVR as appropriate too.

[quote name='getknk' timestamp='1336037323' post='909028944']
Folks,

I've been to a mortgage consultant and was inquiring about various mortgage options in my area (SE) as an FTB
I've provided 20% deposit and in my name only ..

the offers gave were
1. Coventry BS - 3.69% Fixed 2 years and 4.90% later variable
2. halifax 4.21% and 5.20% later variable
3. Santander - 4.52% flexi ( i can pay additional or early payments)

I felt I got the rates higher than many people got.

Few queries I had
a. Can you please put the rates which banks offered?
b. How is it to go with a mortgage consultant?
c. Any tips to have better interest rates for FTB?
d. Any good calculator to analyse between the various options in long term?
[/quote]

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[quote name='getknk' timestamp='1336037323' post='909028944']
Folks,

I've been to a mortgage consultant and was inquiring about various mortgage options in my area (SE) as an FTB
I've provided 20% deposit and in my name only ..

the offers gave were
1. Coventry BS - 3.69% Fixed 2 years and 4.90% later variable
2. halifax 4.21% and 5.20% later variable
3. Santander - 4.52% flexi ( i can pay additional or early payments)

I felt I got the rates higher than many people got.

Few queries I had
a. Can you please put the rates which banks offered?
b. How is it to go with a mortgage consultant?
c. Any tips to have better interest rates for FTB?
d. Any good calculator to analyse between the various options in long term?
[/quote]
I would scrap the consultant and visit every potential lender in person.
You need to get the various deals laid out in detail without paying some consultants commission.
Recommend you get something that allows capital repayments without penalty.
This is not the same as early or overpayments.
I used to run the early and over payment in tandem with capital repayments as it allowed you to get a month ahead on the repayment, and if you didn't have any large bills for car or whatever in that month, you could put the following months payment in as a capital repayment, which cuts down the interest you pay the following month.
If the interest rates go up, you start paying the new rate, if they go down, you continue paying the old rate. That way, if you lose your job, you know you are a month ahead on the mortgage.

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[quote name='koala_bear' timestamp='1336039600' post='909028985']
Thanks for posting it is always useful to know the situation on the ground.
IRs on mortgages are going up recently so those rates look OK and certainly cheaper than many.
c ) bigger deposit getting to 25% should help but at 20% you already have most of the advantage to be gained.
d ) create you own in excel etc to compare offers, that way you can model changes in SVR as appropriate too.
[/quote]

I got 2.5%+BOE lifetime tracker form HSBC on 20% deposit half a year ago. No limit on overpayments whenever you want and can.

I made my choice by looking on compare sites and the bank sites direct.

I used the spreadsheet that can be found [url="http://forums.moneysavingexpert.com/showthread.php?t=1157173"]here[/url] to check affordability and what will happen if the BOE raises to 8%-10%. It works great as it shows you the life of the mortgage and you can play with scenarios of regular or one off overpayments and see straight away how it affects the mortgage.

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[quote name='bulboy' timestamp='1336041853' post='909029020']
I got 2.5%+BOE lifetime tracker form HSBC on 20% deposit half a year ago. No limit on overpayments whenever you want and can.

I made my choice by looking on compare sites and the bank sites direct.

I used the spreadsheet that can be found [url="http://forums.moneysavingexpert.com/showthread.php?t=1157173"]here[/url] to check affordability and what will happen if the BOE raises to 8%-10%. It works great as it shows you the life of the mortgage and you can play with scenarios of regular or one off overpayments and see straight away how it affects the mortgage.
[/quote]

You can't even get that these days with a 60% LTV.

With 80% LTV the best seems to be the 3.69% for 2 years tracker that the OP found. (£999 setup fee)

I recently secured a 2.5% for 2 years with Nat West on a 60% LTV but even that deals gone now.

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[quote name='bulboy' timestamp='1336041853' post='909029020']
I got 2.5%+BOE lifetime tracker form HSBC on 20% deposit half a year ago. No limit on overpayments whenever you want and can.

I made my choice by looking on compare sites and the bank sites direct.

I used the spreadsheet that can be found [url="http://forums.moneysavingexpert.com/showthread.php?t=1157173"]here[/url] to check affordability and what will happen if the BOE raises to 8%-10%. It works great as it shows you the life of the mortgage and you can play with scenarios of regular or one off overpayments and see straight away how it affects the mortgage.
[/quote]
Thanks much for the input and sheets.. very useful..

thanks to everyone for contributing..
expecting more information

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