Mortgage Help - Advantages/Disadvantages of These 3? - HotUKDeals
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Mortgage Help - Advantages/Disadvantages of These 3?

robjamuk Avatar
6y, 4m agoPosted 6 years, 4 months ago
Hello,

I have no clue what these figures mean, Wondering if someone would be able to explain the advantages/disadvantages of these three mortgage loans?

(the first two cost £999, the third one is free to setup)

http://www.halifax.co.uk/mortgages/existing-customer-tracker-75LTV.asp
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robjamuk Avatar
6y, 4m agoPosted 6 years, 4 months ago
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banned#1
well you will be paying different rates on each one for the 1st 3 years, confused to what you mean by you dont understand
1 Like #3
1st one is 2.49 above base rate guarenteed for 2 years
2nd one 2.64 above base rate gtd for 3 yrs
3rd one 2.79 above base rate gtd for 3 yrs

u need to work out if paying the 3rd rate cost more than you would save on the other rates coz the 3rd one if free.
#4
depends on how much you are borrowing really
#5
Ohh so if the difference in interest over three years is less than £999, then i'd be paying extra for no reason just to setup on the third one?

and if for example after the 2nd year, the 1st choice base rate went up... then I would have been better choosing the second one, as its fixed for 3 years?

Thanks!
banned#6
robjamuk
Ohh so if the difference in interest over three years is less than £999, then i'd be paying extra for no reason just to setup on the third one?

and if for example after the 2nd year, the 1st choice base rate went up... then I would have been better choosing the second one, as its fixed for 3 years?

Thanks!


so you just need to see if the difference is less than £999 and they are all fixed for 3 yrs, and the same rate after three years


edit - whoops i thought they where all 3 years, sorry


you will also need a 25% deposit as they only loan you up to 75%

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