Metro Bank fixed rate mortgage - 5 year @ 1.84% (65% LTV) - HotUKDeals
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Metro Bank fixed rate mortgage - 5 year @ 1.84% (65% LTV)

£0.00 @ Metro Bank
I've been considering a 5 year fix (65% LTV) and came across this which I thought was pretty decent? There's a £999 product fee but free legal assistance and valuation. (1.99% with no fee, max* lo… Read More
baz84 Avatar
4m, 6d agoFound 4 months, 6 days ago
I've been considering a 5 year fix (65% LTV) and came across this which I thought was pretty decent?

There's a £999 product fee but free legal assistance and valuation. (1.99% with no fee, max* loan size of 100k)

*update, the 1.99% rate is actually offered on a MINIMUM loan size of 100k
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baz84 Avatar
4m, 6d agoFound 4 months, 6 days ago
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1 Like #1
That is a great rate but max of 100k?! All I need now is a time machine to take me to a time when that's worth even half a decent house!
1 Like #2
Daverobeo
That is a great rate but max of 100k?! All I need now is a time machine to take me to a time when that's worth even half a decent house!
The £100k limit only applies to the fee-free version (presumably as the fee would be disproportionately large on a small loan).
2 Likes #3
Daverobeo
That is a great rate but max of 100k?! All I need now is a time machine to take me to a time when that's worth even half a decent house!
£100k is the amount of the loan, not the value of the house. Thankfully, not many my age have a £100k mortgage, even if the houses are worth several times that.
2 Likes #4
Best rate on the market if your mortgage is above £130,000 and your Loan to Value is above 60% but below 65%.

If your mortgage is below £130,000, there are better deals available involving higher rates but no fees.

If your loan to value is below 60%, there are better deals available.

Voted hot because of the fact that, in certain circumstances, it's the best deal on the market.
4 Likes #5
a decent rate. heated.
i just got a 1.94% fee free from hsbc, but the cheaper rate including the £999 fee upfront made it more expensive for me, all depends on your mortgage, as a basic rule of thumb

Calculate the difference in percentage rate ie 1.99%-1.84% = 0.15% multiply by your mortgage over the 5 year term ie £100k Increased percentage would cost £750, so best to take mortgage without the fee
(note, to get the true value you would need to include interest on a reducing value inline with repayments)
1 Like #6
Heres some advice, move country and get a bigger house, come on its cheaper to live in USA, we pay more for everything
#7
Loyds offers better deal on 70%, check
1 Like #8
TheGuyWhoNeverGetsSamples
Heres some advice, move country and get a bigger house, come on its cheaper to live in USA, we pay more for everything
Well it's not that easy to just emigrate, is it? If your goal is a big house, maybe moving within the UK is a more realistic option?
#9
Great deal, my remortgage is not due until the end of the year so I wonder how long before can I lock this rate in?
#10
jezcooke
Daverobeo
That is a great rate but max of 100k?! All I need now is a time machine to take me to a time when that's worth even half a decent house!
The £100k limit only applies to the fee-free version (presumably as the fee would be disproportionately large on a small loan).

100k minimum it says is there any early repayment pemalty
#11
does any one know what the rate is when you factor in the fee or how you do that thanks
#12
anyone know who these people are?
#13
TheGuyWhoNeverGetsSamples
Heres some advice, move country and get a bigger house, come on its cheaper to live in USA, we pay more for everything

Depends which part, same as here. Renting a room in London costs more than a mortgage elsewhere
#14
Shard
TheGuyWhoNeverGetsSamples
Heres some advice, move country and get a bigger house, come on its cheaper to live in USA, we pay more for everything

Depends which part, same as here. Renting a room in London costs more than a mortgage elsewhere


But living in USA is still cheaper

Houses are bigger and cheaper

Oh we also pay more for stuff over here, a lot more, with Technology its a big difference in prices, remember when Xbox one released it was £500 $500 €500 even though at the time $500 was £300
#15
scoobytawazara
does any one know what the rate is when you factor in the fee or how you do that thanks
Yes this is a good question .
Post #5 says which is better but as a rough estimate.
#16
Very good explanation, I understand better now but as asked previously what is the actual percentage with the fees(1.84%+£999 fee = % ? ) included and how to work it out please.(_;)

whatyadoinsucka
a decent rate. heated.
i just got a 1.94% fee free from hsbc, but the cheaper rate including the £999 fee upfront made it more expensive for me, all depends on your mortgage, as a basic rule of thumb

Calculate the difference in percentage rate ie 1.99%-1.84% = 0.15% multiply by your mortgage over the 5 year term ie £100k Increased percentage would cost £750, so best to take mortgage without the fee
(note, to get the true value you would need to include interest on a reducing value inline with repayments)
#17
can we stop the BS about America and give some constructive advice to my earlier questions
#18
gill21
Very good explanation, I understand better now but as asked previously what is the actual percentage with the fees(1.84%+£999 fee = % ? ) included and how to work it out please.(_;)
whatyadoinsucka
a decent rate. heated.
i just got a 1.94% fee free from hsbc, but the cheaper rate including the £999 fee upfront made it more expensive for me, all depends on your mortgage, as a basic rule of thumb
Calculate the difference in percentage rate ie 1.99%-1.84% = 0.15% multiply by your mortgage over the 5 year term ie £100k Increased percentage would cost £750, so best to take mortgage without the fee
(note, to get the true value you would need to include interest on a reducing value inline with repayments)

it depends how big your mortgage is, how interest is calculated, etc.

As a basic calculation, for example a £100k mortgage over 5 years, a £999 fee would be £200 a year.
approx 0.2% ie a Fifth of 1% pa, on the other hand if your mortgage is only £50k then it would be 0.4% (2/5ths of 1%).
#19
So if I took the 5year for 1.84%+£999 fees and my mortgage was £100k how much is the actual % I am paying over the 5 years ?

whatyadoinsucka


it depends how big your mortgage is, how interest is calculated, etc.
As a basic calculation, for example a £100k mortgage over 5 years, a £999 fee would be £200 a year.
approx 0.2% ie a Fifth of 1% pa, on the other hand if your mortgage is only £50k then it would be 0.4% (2/5ths of 1%).
1 Like #20
gill21
So if I took the 5year for 1.84%+£999 fees and my mortgage was £100k how much is the actual % I am paying over the 5 years ?
whatyadoinsucka

it depends how big your mortgage is, how interest is calculated, etc.
As a basic calculation, for example a £100k mortgage over 5 years, a £999 fee would be £200 a year.
approx 0.2% ie a Fifth of 1% pa, on the other hand if your mortgage is only £50k then it would be 0.4% (2/5ths of 1%).
You also need to factor In the term and repayment amount, As a rough guide
2.04%

Probably worth putting your details in http://www.thisismoney.co.uk/money/mortgageshome/article-1633400/Mortgage-calculator-Compare-true-cost-rates-fees.html

Put your rate with fee and the rate without fee and compare the repayment on each
#21
Thanks for the reply .Would you please show working how you got to the rough 2.04% ?
I am interested in finding out the actual percentage with fees for the 1.84%+999fees.
That link is also very helpful as it shows my total paying costs.

whatyadoinsucka
gill21
So if I took the 5year for 1.84%+£999 fees and my mortgage was £100k how much is the actual % I am paying over the 5 years ?
whatyadoinsucka

it depends how big your mortgage is, how interest is calculated, etc.
As a basic calculation, for example a £100k mortgage over 5 years, a £999 fee would be £200 a year.
approx 0.2% ie a Fifth of 1% pa, on the other hand if your mortgage is only £50k then it would be 0.4% (2/5ths of 1%).
You also need to factor In the term and repayment amount, As a rough guide
2.04%
Probably worth putting your details in http://www.thisismoney.co.uk/money/mortgageshome/article-1633400/Mortgage-calculator-Compare-true-cost-rates-fees.html
Put your rate with fee and the rate without fee and compare the repayment on each

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