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Grab A Low Mortgage Rate Quickly

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http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/8489757/Grab-a-low-mortgage-rate-quickly.html

1 Best for first-time buyers

Skipton Building Society offers the only 5 per cent deposit mortgage on the market that doesn't require financial security from a parent or guardian. The two-year fixed rate loan charges 6.49 per cent but requires a very small fee – just £195. First-timers be warned, though, the length of the term is short so you may find that when you come to remortgage, rates have risen and you don't own much more equity.

2 Best for those remortgaging

If you've been paying off your mortgage for a while, chances are you've built up a fair bit of equity and are in a position to take advantage of some of the best rates around. Santander has a two-year fixed rate charging just 2.79 per cent for those with a 40 per cent deposit. Be warned, however, the loan does have a quite high arrangement fee at £1,995.

O bargain, I mean how much do you need to save for it pay a £2k arrangement fee!!!

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http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/8489757/Grab-a-low-mortgage-rate-quickly.html

O bargain, I mean how much do you need to save for it pay a £2k arrangement fee!!!

Not sure how Santander is making money - because they are paying more interest than that on my internet current account.

:blink:

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£2k arrangement fee possibly?

Also, some of these low fixed rates are fixed at X for 2 years, but have early repayment charges if you move before 5 years, ie they then bend you over for the 3 years after the fixed period.

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Not sure how Santander is making money - because they are paying more interest than that on my internet current account.

:blink:

You don't understand Ponzi schemes do you?! ;)

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£2k arrangement fee possibly?

Also, some of these low fixed rates are fixed at X for 2 years, but have early repayment charges if you move before 5 years, ie they then bend you over for the 3 years after the fixed period.

They call that a hangover in the industry , but you have changed it to a bendover which is a much more fitting name for it.

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The threat of a base rate rise is making home owners and first-time buyers grab the low rates while they can.
linky
Experts believe the latest GDP figures – showing a lacklustre 0.5pc rise between January and March – destroyed any chance of a rate hike
linky

Not much joined up thinking going on at the Telegraph today.. unless they are subtly telling FTBers they should pay closer attention to Mervyn and stop making rash mortgage decisions.

Edited by libspero

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Not sure how Santander is making money - because they are paying more interest than that on my internet current account.

:blink:

well, the average mortgage is around £135K

2K UPFRONT is a very nice little earner on top of the monthly interest.

so sell 70, sell one free.

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Most people are going to lump it onto the mortgage surely. As house prices go down, they need a way of expanding the mortgage and keep that interest coming in.

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linky

linky

Not much joined up thinking going on at the Telegraph today.. unless they are subtly telling FTBers they should pay closer attention to Mervyn and stop making rash mortgage decisions.

You know, if I were a complete cynic, I'd think that the banks are annoyed at all of those customers on base rate trackers, or low SVRs, and are trying to get people to shift to expensive fixed rate products by planting a few stories in the media..

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Not sure how Santander is making money - because they are paying more interest than that on my internet current account.

:blink:

Because they're paying you 6% (say) on your £100k stash, whilst using that same money to loan out 10 mortgages at 2%, leaving them 14% better off.

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Clydesdale bank are offering a 90% LTV mortgage that is fixed for 3 years at 5.99% with a £599 fee.

It's not great but compared to the other 90% FTB mortgages that are available just now I'd say its decent enough.

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O bargain, I mean how much do you need to save for it pay a £2k arrangement fee!!!

Nothing, just tack it onto the mortgage, or stick it on the credit card

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linky

linky

Not much joined up thinking going on at the Telegraph today.. unless they are subtly telling FTBers they should pay closer attention to Mervyn and stop making rash mortgage decisions.

Not really - i read that as them saying the banks will increase mortgage rates on the slightest sniff of an excuse, while Mr King is saying that he can't afford to raise the rate the banks get charged as that'll send them.. bankrupt.

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Not really - i read that as them saying the banks will increase mortgage rates on the slightest sniff of an excuse, while Mr King is saying that he can't afford to raise the rate the banks get charged as that'll send them.. bankrupt.

Mervs speach was in Europe....those words were for the ears of European bankers....he said we arent soon to raise rates, and if you continue to do so, watch your exports plummet.

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You know, if I were a complete cynic, I'd think that the banks are annoyed at all of those customers on base rate trackers, or low SVRs, and are trying to get people to shift to expensive fixed rate products by planting a few stories in the media..

Even when rates rise, many banks/building societies will see no benefit on many of these. Mine is collared at 2.64%, but as it is base rate + 0.64%, rates would have to rise to 2% before I pay anything more.

HSBC right now are doing a zero fee tracker @ base rate + 1.89%

As the BoE seems to be fixated on keeping rates low, I think it is madness to consider a fixed rate deal at anything over 4%, especially with the associated fees.

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Even when rates rise, many banks/building societies will see no benefit on many of these. Mine is collared at 2.64%, but as it is base rate + 0.64%, rates would have to rise to 2% before I pay anything more.

HSBC right now are doing a zero fee tracker @ base rate + 1.89%

As the BoE seems to be fixated on keeping rates low, I think it is madness to consider a fixed rate deal at anything over 4%, especially with the associated fees.

yeah, 60% LTV and premier customers only.

Thats £100K per year, or £300 fee per annum if you dont have the income...which 99% of the UK dont.

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snip

I think it is madness to consider a fixed rate deal at anything over 4%, especially with the associated fees.

I had to physically restrain myself in the bank last week. I was closing my ISA 'cos of the terrible rate Halifax pay, and the cashier asked me 'Would you like to meet an advisor to discuss moving your mortgage back to us - we can offer you a competitive fixed rate. YOU KNOW, INTEREST RATES ARE GOING UP NEXT MONTH.'

I answered that with things being the way they are in the economy why on earth would I consider moving off a tracker at the moment.

Clearly though the banks are playing on inflationary fears as much as they can.

The cheek of it, though. Stating as a fact that rates will go up. When I asked her how she knew she didn't have an answer to that. Poor bloody cashiers having to spout this crap.

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yeah, 60% LTV and premier customers only.

Thats £100K per year, or £300 fee per annum if you dont have the income...which 99% of the UK dont.

You don't have to be a premier customer for this, so there is no fee. So you don't have to earn £100K/annum.

Qualifying Criteria None

To qualify for some products customers must hold an HSBC Advance or HSBC Premier current account.

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You don't have to be a premier customer for this, so there is no fee. So you don't have to earn £100K/annum.

Qualifying Criteria None

To qualify for some products customers must hold an HSBC Advance or HSBC Premier current account.

just got that off the HSBC website.

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... the cashier asked me 'Would you like to meet an advisor to discuss moving your mortgage back to us - we can offer you a competitive fixed rate. YOU KNOW, INTEREST RATES ARE GOING UP NEXT MONTH.'

...

Poor bloody cashiers having to spout this crap.

I have been getting the same from Nationwide. I have been withdrawing and transferring a fair amount of money recently to pay for a loft conversion, and have been asked if I need a financial review and if I have fully funded my ISA. Normally I do stuff online or at ATM to save myself the trouble. The cashiers are nice enough and probably get fed up asking this all day.

The daft part is that if you ever do speak to an advisor, they are likely to not fully inform you. One recently suggested I get a personal loan rather than utilise my mortgage overpayments. I suspect there is no commission on the latter. However to be fair they did advise against a re-mortgage as I would go onto the BMR of 4% rather than the SMR of 2.5% when the deal ends.

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I have been getting the same from Nationwide. I have been withdrawing and transferring a fair amount of money recently to pay for a loft conversion, and have been asked if I need a financial review and if I have fully funded my ISA. Normally I do stuff online or at ATM to save myself the trouble. The cashiers are nice enough and probably get fed up asking this all day.

The daft part is that if you ever do speak to an advisor, they are likely to not fully inform you. One recently suggested I get a personal loan rather than utilise my mortgage overpayments. I suspect there is no commission on the latter. However to be fair they did advise against a re-mortgage as I would go onto the BMR of 4% rather than the SMR of 2.5% when the deal ends.

At least they've noticed.

I've got 80K+ with Natwest. They haven't batted an eyelid.

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The 10 year fixed market is all but closed with rates in the 5-6% region whatever the ltv. The 1.89% over br for life deal. Does it have a large redemption penalty?

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The 10 year fixed market is all but closed with rates in the 5-6% region whatever the ltv. The 1.89% over br for life deal. Does it have a large redemption penalty?

No, when they re-introduce trackers as base rate - 1% you can jump ship and take that instead (fat chance).

Fees and Charges

Early repayment charges No

Exit fee No

Repayment

Extended tie-in period No

Unlimited lump sum without charge Yes

Unlimited overpayments without charge Yes

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No, when they re-introduce trackers as base rate - 1% you can jump ship and take that instead (fat chance).

Fees and Charges

Early repayment charges No

Exit fee No

Repayment

Extended tie-in period No

Unlimited lump sum without charge Yes

Unlimited overpayments without charge Yes

can you get one?....No

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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