10 year fixed rate mortgage ** 2.99%** £999 fees @ Woolwich from Barclays only 20% deposit!!
1385°Expired

10 year fixed rate mortgage ** 2.99%** £999 fees @ Woolwich from Barclays only 20% deposit!!

217
Found 6th May 2015
Barclays 10 year fixed rate mortgage 2.99% with only 20% deposit required (80% LTV). Fee of £999]

Lowest 10 year fixed rate deal currently on offer with very low deposit required..

Available through intermediarys and Barclays/Woolwich direct

barclays.co.uk/Mor…470

This is a cracking deal with low loan to value and better than most if not all 10 year deals from other providers including those with 60LTV (40% deposit)

Great for those wishing to plan house payments for the next ten years.

217 Comments

Original Poster

[url=
woolwichintermediaries.co.uk/cs/…ite?blobcol=urldata&blobheadername1=Content-Type&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobheadervalue2=attachment%3B+filename%3DIntermediaryRateSheet060515.pdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1367520953931&ssbinary=true]see bottom of page 3 on PDF[/url]

I have my mortgage with Barclays & all banking, looking to change now. There rates have been crap compared to everyone else and they have no perks etc. thinking of going with Santander due to there high interest on current accoutn

Original Poster

Crazy Chris

I have my mortgage with Barclays & all banking, looking to change now. … I have my mortgage with Barclays & all banking, looking to change now. There rates have been crap compared to everyone else and they have no perks etc. thinking of going with Santander due to there high interest on current accoutn



That maybe but Santander don't currently do a 10year mortgage deal as good as this one. My experience with banks is to be loyal to none, and just take which offers serve & keep an eye out for the next change.

money.co.uk/mor…htm

For a 10yr deal this is a really good rate based on an LTV 0f 80%.....

Heat added.

Not sure why this is cold, seems like a good deal to me.

I lost my faith in HKUD voting. Are we get more and more prejudiced and predetermined here? How on earth this is a cold deal??

kkthomask

I lost my faith in HKUD voting. Are we get more and more prejudiced and … I lost my faith in HKUD voting. Are we get more and more prejudiced and predetermined here? How on earth this is a cold deal??


I think they call it hit and run.......

kkthomask

I lost my faith in HKUD voting. Are we get more and more prejudiced and … I lost my faith in HKUD voting. Are we get more and more prejudiced and predetermined here? How on earth this is a cold deal??



Looks like people vote on brand than the actual deal (See any apple product) - This is a great deal for 80%LTV for those that can get it.

Good work OP.

What is the point for locking your mortgage for 10 years?

Interest rate is going to go down.

this is a great deal. i only hope i can tie in once my mortgages are due for renewal. rates cant drop much further and i dont think rates will be this low in 3, 5 or 10 years. at the moment the only realistic way is up for interest rates.

I hated being with this company, too many charges. Way happier with Nationwide.

ChickenDinner2000

What is the point for locking your mortgage for 10 years?Interest rate is … What is the point for locking your mortgage for 10 years?Interest rate is going to go down.



From a Base Rate of 0.5%?

ChickenDinner2000

What is the point for locking your mortgage for 10 years?Interest rate is … What is the point for locking your mortgage for 10 years?Interest rate is going to go down.


There's no certainty of that.
Even if it does, how close to zero is it realistically able to get?

If you are comfortable with tying in for 10 years then this is a stonking deal. Its not for me beacuse i'm looking to move soon and not sure i'll last in the next place for 10 years - jobs require mobility these days, although I suppose if it is portable then it could work....

Anyway regardless, i'm voting hot.

I don't understand the "rates could still go down" concern.... how much could they go down, 0.5%? even 1%?..... they can go up a hell of a lot more than they could go down and in the long run I would put money on them being higher than what they are now, even if they did drop in the short term, which IMHO is unlikely.

Original Poster

It is also worth taking into account the possible effect of the EU mortgage directive that comes into effect March 2016 or sooner. It will effect those remortgaging or (as I understand it) looking to fix a new deal/rate on a current mortgage.

There have already been examples of people looking to fix a new deal with the same provider that would result in cheaper monthly payments being told that they cannot afford the new payments after the new affordability checks. A fixed 10 year deal will negate any initial teething problems and give time for new legislation to stop banks misinterpreting the regulations. See link below for more info

moneysavingexpert.com/new…-EU

hot hot

BigAde

There's no certainty of that. Even if it does, how close to zero is it … There's no certainty of that. Even if it does, how close to zero is it realistically able to get?


With the UK facing deflation there is no way in the hell will they increase interest rates any time soon.

Shahenshahi

With the UK facing deflation there is no way in the hell will they … With the UK facing deflation there is no way in the hell will they increase interest rates any time soon.



But they can't realistically go down any further. What do you expect to happen? The banks paying us interest on our mortgages?!

Cracking deal, but personally I wouldn't want to be tied in for 10 years. 5 years is enough for me.

CRAZY HOT. It's a sign of the market I guess.

Ian182

But they can't realistically go down any further. What do you expect to … But they can't realistically go down any further. What do you expect to happen? The banks paying us interest on our mortgages?!



They could be halved to 0.25% quite easily. Or even made 0%

Hi, just a quick question for the mortgage heads, I have a 5 year fix coming to an end on a small mortgage, very small Ltv, I was working for a firm at the time and had 8 years service under by belt, I was accepted by hsbc. I'm now working as a contractor as a limited company. Might I have difficulty when I come to get a new fix?

Potential deflation is most likely only a short term problem... and this mortgage is for 10 years.

One prediction is, if the tories stay in power, for base rate to gradually rise to about 2.5% by the time of the next election - halfway through the fixed term of this mortgage. Even the best trackers would be on a par with this mortgage rate then.

The same prediction source reckons that base rates would rise more to offset Labour spending plans if they go in power. Which means at the halfway mark, that this fixed rate would be better value than all trackers?

Of course this is just one prediction in a plethora of opinions. But given that the best trackers on the market today are at about 1.79% or 1.99%, it only takes a rise of 1% to make the fixed rate equivalent and with a lot more certainty / peace of mind. The chances of rates not going up by 1% within the next 5 years, let alone 10, are minimal in my opinion.

ChickenDinner2000

What is the point for locking your mortgage for 10 years?Interest rate is … What is the point for locking your mortgage for 10 years?Interest rate is going to go down.


And you know this how?

Shahenshahi

With the UK facing deflation there is no way in the hell will they … With the UK facing deflation there is no way in the hell will they increase interest rates any time soon.



I'm no economic expert, but how/where do you learn this from? As my brother is looking into mortgages at the moment...

If anyone is put off by the application fee, then on page 4 they have a version for 3.19% with no fee.

rip off

should be 1% fixed for 10 years no fee

I'd like to know in what world a 20% deposit could be described as 'only'.

That's £50,000 cash on average.

Original Poster

Banterlicious

I'd like to know in what world a 20% deposit could be described as … I'd like to know in what world a 20% deposit could be described as 'only'.That's £50,000 cash on average.



In a world when the only previous deal around this price was with a 35% or 40% deposit. It also depends on what part of the UK you are living in. Plenty of housing stock around for below 200k, just not near London.

cracking offer, so how does someone go about actually getting the fixed 10 year rate at 2.99% , whats the application proceedure ?

I have a question. My mortgage deal ran out and I dropped onto the base rate - so am paying 0.5 interest. Is it really in my interests to pay £1000 to pay a greater rate of interest, or should I just stick with it and hope rates take a while to start jumping?

Does anyone kno of any intermediarys offering this deal at present ?

spacedleo

I have a question. My mortgage deal ran out and I dropped onto the base … I have a question. My mortgage deal ran out and I dropped onto the base rate - so am paying 0.5 interest. Is it really in my interests to pay £1000 to pay a greater rate of interest, or should I just stick with it and hope rates take a while to start jumping?



Are you sure it's the base rate of 0.5% you are paying, or their standard variable rate?

If you are tracking base + 0%, then it is up to you and how much certainty you want, but I think personally I would stick with that and hope that rates go up and come down again before goingg too far over this 3% fix.

spacedleo

I have a question. My mortgage deal ran out and I dropped onto the base … I have a question. My mortgage deal ran out and I dropped onto the base rate - so am paying 0.5 interest. Is it really in my interests to pay £1000 to pay a greater rate of interest, or should I just stick with it and hope rates take a while to start jumping?



If that's truly all you're paying, I'd stay where you are.
UNLESS you value certainty for the next 10 years above all else, there's little reason to change.

gwapenut

Potential deflation is most likely only a short term problem... and this … Potential deflation is most likely only a short term problem... and this mortgage is for 10 years.One prediction is, if the tories stay in power, for base rate to gradually rise to about 2.5% by the time of the next election - halfway through the fixed term of this mortgage. Even the best trackers would be on a par with this mortgage rate then.The same prediction source reckons that base rates would rise more to offset Labour spending plans if they go in power. Which means at the halfway mark, that this fixed rate would be better value than all trackers?Of course this is just one prediction in a plethora of opinions. But given that the best trackers on the market today are at about 1.79% or 1.99%, it only takes a rise of 1% to make the fixed rate equivalent and with a lot more certainty / peace of mind. The chances of rates not going up by 1% within the next 5 years, let alone 10, are minimal in my opinion.



am hoping Labour gets in, as all Tories do is create mad schemes to get young people into debt.

Original Poster

Macca-J

Does anyone kno of any intermediarys offering this deal at present ?


Just ask an independent financial advisor. The majority should have access to the deal. I can pass on the details of who I am using if you want to PM me, they are London based.

danskis

Just ask an independent financial advisor. The majority should have … Just ask an independent financial advisor. The majority should have access to the deal. I can pass on the details of who I am using if you want to PM me, they are London based.




Thanks, im based in the West Midlands so might try to find someone local first

Macca-J

Does anyone kno of any intermediarys offering this deal at present ?



moneysupermarket.com/mor…ls/?productCode=MOR_WOOLWICH_7386B5B3F7C44DB093D4B793ADEA86E1&index=1&count=4&selectedProductId=MOR_WOOLWICH_7386B5B3F7C44DB093D4B793ADEA86E1&gid=MOR_REM&page=&borrowAmount=100000&repaymentType=capitalandinterest&term=25

EDIT: Their "go to site" link seem to take you to London & Country who are a reputable nationwide firm who deal with this kind of thing. No need to be local, I think.
Edited by: "gwapenut" 6th May 2015

HUKD - You are making me buy things that I just do not need, I wasn't going to buy anything today, I now have just bought a house!
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