10 year fixed rate mortgage 2.39%, max 50% LTV, £999 fee @ Coventry building society
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10 year fixed rate mortgage 2.39%, max 50% LTV, £999 fee @ Coventry building society

12
Found 7th Jul 2016
The lowest 10-year mortgage rate on record is set to be launched on Friday, and more cuts could be on the cards as lenders take advantage of falling money markets to offer cheap deals.

Coventry Building Society is to offer a rate of just 2.39% for borrowers willing to fix their loan for a decade. The mortgage, which beats the previous best-buy rate of 2.84% from Leeds building society, has a fee of £999 and is available only to borrowers with a minimum 50% deposit.

theguardian.com/mon…ate
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lots of these on the way and might need to do the maths before going for this one over the HSBC one

hotukdeals.com/dea…124
Original Poster
eslick

lots of these on the way and might need to do the maths before going for … lots of these on the way and might need to do the maths before going for this one over the HSBC onehttp://www.hotukdeals.com/deals/10-year-fixed-rate-mortgage-2-79-max-ltv-70-0-booking-fee-hsbc-2476124


If you borrow 25k then the HSBC deal will cost you £100 more in interest charges each year (neglecting capital repayments), so that would precisely offset the booking fee over the 10 year term. Hence, if you borrow more than 25k (and meet the 50% LTV requirement) this should be the better deal for you.
laughable. Just gone through their affordability calculator. £40k income, £120k deposit, £400 expenses and most they will lend is £111k !!!!! HSBC £263k
simont_space

laughable. Just gone through their affordability calculator. £40k … laughable. Just gone through their affordability calculator. £40k income, £120k deposit, £400 expenses and most they will lend is £111k !!!!! HSBC £263k



Almost 7 x your income?
muffboy

Almost 7 x your income?



Loan to value should really be in your favour with a 120k deposit!
muffboy

Almost 7 x your income?



Went on earlier to look at the HSBC offer from here and their way of calculating looks to have changed. I was surprised too. Tried a couple of times too. Actually think there is something wrong with it as most on offer elsewhere is arounf £200k.

Wondered if Brexit had meant recent EU rules on mortgages could see a change on lending and they are trying out.
mishmar

Loan to value should really be in your favour with a 120k deposit!



I know. Went through process again and still the same. I think HSBC calculator is wrong though.
Have given heat as appears to be best deal right now, and I know low interest rates won't last forever, but aren't there decent odds on an even better fixed rate if there is a Bank of England interest rate cut as most experts seem to predict? Worth waiting if you can?
I borrowed a tenner from my dad in the late nineties and he's never asked for it back. Best lender by a mile.
Did anyone find out whether over payments are allowed? Normally it is 10
% per year of the principal amount but it does not say in the details.
maxwtaylor

Did anyone find out whether over payments are allowed? Normally it is 10% … Did anyone find out whether over payments are allowed? Normally it is 10% per year of the principal amount but it does not say in the details.



"You can repay up to 10% of the capital p.a. without an early repayment charge."
Good deal, unsure why it's not hotter
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