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Latest Changes To Mortgage Rate Deals


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2 year fixes are still dropping, while 5-years are rising. I think this is having more of an effect than HTB:

http://themortgageme.../latest_changes

When you're struggling to sell something, businesses often lower the price. Same principles for lenders selling money. Also there are the supposed 'stress tests' for new borrowers to pass.

2 year fixes dropping, whilst 5 year rising.... that could be a signal of big trouble ahead, like in the Gilts thread, but on the borrowing side. Trying to attract borrowers, on teaser 2 year deals, at exactly the wrong time, for them.

25 Feb 2013

Ten year gilts now yield 2.12 per cent whilst five year ones yield 0.87 per cent. Why, then, would anyone choose to hold the five year gilt? It can only be because they expect yields to rise, so that when the five year gilt matures, its proceeds can be reinvested at a higher yield; a five year yield of 3.4 per cent in five years’ time is necessary to equalize the returns on ten year gilts. In this sense, rising yields are priced in.

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When you're struggling to sell something, businesses often lower the price. Same principles for lenders selling money. Also there are the supposed 'stress tests' for new borrowers to pass.

2 year fixes dropping, whilst 5 year rising.... that could be a signal of big trouble ahead, like in the Gilts thread, but on the borrowing side. Trying to attract borrowers, on teaser 2 year deals, at exactly the wrong time, for them.

As someone with a fair amount of money in the bank, The low-year deals are tempting.

Not as tempting as having a negligible debt and a house I want to stay in though.

I thought these graphs had reached their low some time ago, but no:

http://themortgagemeter.com/#/graphs

Surely the banks can just take that 2-year money and invest it in bonds with low cost and low risk?

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Looks like N&P have pulled their market leading (FLS backed?) 5 year fix: http://www.nandp.co.uk/mortgages/full-mortgage-range/

They used to have 2.84% @65 LTV with £295 fee (effectively £95 after the £200 cashback).

In fact it looks like they're reducing their lower LTV offerings, there's only 3 mortgages at 65%. So they're not as interested in higher deposits as they were before?

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The Fees....prolly .75% of the sale price in themselves.

Seems to depend on whether fix or variable.

Scrap that. This is from Halifax.

Basically you can roll fees into rate or pay a grand up front for all Halifax variables.

Can be arsed to work out whether their is any different or what % of sales price, but you're not far off.

2 years 1.84% +1.34% Currently 3.99% 29/02/2016 3.8% APR £995 40% 29/02/2016 £0-£1m

2 years 2.24% +1.74% Currently 3.99% 29/02/2016 3.8% APR £0 40% 29/02/2016 £0-£1m

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Seems to depend on whether fix or variable.

Scrap that. This is from Halifax.

Basically you can roll fees into rate or pay a grand up front for all Halifax variables.

Can be arsed to work out whether their is any different or what % of sales price, but you're not far off.

2 years 1.84% +1.34% Currently 3.99% 29/02/2016 3.8% APR £995 40% 29/02/2016 £0-£1m

2 years 2.24% +1.74% Currently 3.99% 29/02/2016 3.8% APR £0 40% 29/02/2016 £0-£1m

Presumably this is to encourage people with bigger mortgages/deposits to apply.

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Not just 5-year rates, eg Nationwide's recent changes here:

http://themortgagemeter.com/#/latest_changes

themortgagemeter site isn't displaying any data at all for me, at this moment, either in Chrome of Firefox.

Rates are rising already, so act fast to get the best mortgages
By NEIL SIMPSON, FINANCIAL MAIL ON SUNDAY
PUBLISHED: 22:01, 24 May 2014 | UPDATED: 14:24, 25 May 2014

article-2638202-1E0FAAE400000578-150_306

In tune: Singer Catherine Clambaneva found a mortgage adviser

The party may soon be over for anyone looking for a rock bottom mortgage rate – with most experts saying rates will end the summer much higher than they are today.
Sylvia Waycot, editor at financial research company Moneyfacts in Norwich, says: ‘Don’t make the mistake of thinking we need the Bank of England to put up the base rate from its current 0.5 per cent, as the cost of mortgages is rising already.’
She says the average two year fixed rate mortgage has risen from 3.52 to 3.61 per cent in the past month – while new five-year fixes are now about half a percentage point higher than they were at the start of the year.
The rises are expected to continue as other Government inspired changes cut off lenders’ access to cheap cash for borrowers.
+ fees + big deposit down for best deals (wonder why?) etc. Got to really hope MMR + start of a trend in mortgage rates ticking up, especially after FLS for mortgage lending may have just about all trickled through, leading to higher lending costs for banks.

Love this market. Hpcers month after month, year after year, trawling data, hoping for lower prices. Other buyers (example, born in USA, raised in Greece.. moved to London in 2009?) - I'm not anti-immigration, just anti-borrowers who outbid me by fortunes - looking dressed to party, telling newspapers about their quest to buy, seemingly wanting the debt to pay what it's worth.

And other hpcers always playing the line got to have sympathy/protect such buyers, outbidding you by fortunes, with recent anecdotes of buyers offering £10Ks/£100Ks above asking price without having even viewed. Maybe MMR and recent market moves will prevent them doing much more outbiddng, but HTB2 still in play.

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