5 Year Fixed Rate Mortgage @ 2.39%, Max LTV 60% £499 Booking Fee for Advance Customer
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5 Year Fixed Rate Mortgage @ 2.39%, Max LTV 60% £499 Booking Fee for Advance Customer

45
Found 20th Jul 2015
5 Year Fixed Advance Standard Mortgage:
5 Year Fixed Advance Standard @ 2.39%,
Max LTV 60%
£499 Booking Fee
for Advance Customer Only.

But You could apply to become Advance Customer if you qualify before applying for this Mortgage.

Life Time tracker is also available @1.99% + BOE base rate, again
Max LTV 60%
£499 Booking Fee
For Advance Customer Only.

I believe this is the best deal at the moment for 5 years fix rate.

45 Comments

Yeah agreed this is all I could find for a no-fee option

tsb.co.uk/mor…es/
No fee 60% LTV = 2.54% fixed until 31 October 2020

Or if you're remortgaging customer already with Nationwide...2.34% and NO Fee!

davewave

Or if you're remortgaging customer already with Nationwide...2.34% and NO … Or if you're remortgaging customer already with Nationwide...2.34% and NO Fee!



​Do you need to have a mortgage with nationwide already, or just an account?

Sadly the mortgage itself. Looked at that already.

If you go through L&C - Zero Fee v.large broker - looks like you can get 2.40%, No fee, 5yr fix, 60% LTV from the Post Office, scroll down on below page...L&C are very efficient and would recommend them, MSE recommends them too.

lcplc.co.uk/bes…ys/

1.94 with nationwide 4 years with fees of 999

deep2601

1.94 with nationwide 4 years with fees of 999


How can they justify these extortionate fees?

Original Poster

davewave

Yeah agreed this is all I could find for a no-fee … Yeah agreed this is all I could find for a no-fee optionhttp://www.tsb.co.uk/mortgages/moving-home/5-year-fixed-rates/No fee 60% LTV = 2.54% fixed until 31 October 2020


No fee ??
"A Mortgage Account Fee of £265 applies to all mortgages unless stated otherwise."

Original Poster

davewave

If you go through L&C - Zero Fee v.large broker - looks like you can get … If you go through L&C - Zero Fee v.large broker - looks like you can get 2.40%, No fee, 5yr fix, 60% LTV from the Post Office, scroll down on below page...L&C are very efficient and would recommend them, MSE recommends them too.http://www.lcplc.co.uk/best-buys/



What about the broker fee ?? ....

pantaiema

What about the broker fee ?? ....



​no fee, got my mortgage with them

Original Poster

cikki100

​no fee, got my mortgage with them



How do they make money then ??

pantaiema

How do they make money then ??



Commission from lender

sowotsdis

How can they justify these extortionate fees?



It's 0.6% lower interest rate so without doing the math; even with the arrangement fee it's much cheaper than the other deal if you borrow enough.

Comment

deep2601

1.94 with nationwide 4 years with fees of 999

nationwide seem to be leading the way on deals. Has anyone managed to get their existing provider (or anyone?!) to match the nationwide own customer rates?

Wonder how much wriggle room there might be...

Hear the interest rates going up over neXT 3 yrs. Best to get 10yrs fixed to know what you're paying

stevieshoes

Comment nationwide seem to be leading the way on deals. Has anyone … Comment nationwide seem to be leading the way on deals. Has anyone managed to get their existing provider (or anyone?!) to match the nationwide own customer rates? Wonder how much wriggle room there might be...



The nationwide are trying to get their existing customers off their ridiculously generous tracker mortgages we all fell into when our fixed mortgages expired after the down turn. 2% above base + unlimited overpayments + holidays + borrowback + no ERC. Tough sell.

We risk rate rises (and they definitely will) but clearly with such long fixes being offered the banks don't expect much movement over the decade


Edited by: "afly" 21st Jul 2015

sowotsdis

How can they justify these extortionate fees?



It's a business not a charity ...

afly

The nationwide are trying to get their existing customers off their … The nationwide are trying to get their existing customers off their ridiculously generous tracker mortgages we all fell into when our fixed mortgages expired after the down turn. 2% above base + unlimited overpayments + holidays + borrowback + no ERC. Tough sell. We risk rate rises (and they definitely will) but clearly with such long fixes being offered the banks don't expect much movement over the decade



Just out of interest - how generous are those old trackers?

montana78

Hear the interest rates going up over neXT 3 yrs. Best to get 10yrs fixed … Hear the interest rates going up over neXT 3 yrs. Best to get 10yrs fixed to know what you're paying



That's what I was told 2 years ago when I fixed mine at 3.99%

Mr_Tdontmess

Just out of interest - how generous are those old trackers?



They're 2% above base + unlimited overpayments + holidays + borrowback + no ERC.

Earlier this year, I got a 1.29% above base + unlimited overpayments + no ERC from First Direct. I don't get a borrow-back facility or holidays but, in my case, I'd rather a 0.71% discount than these two features.

montana78

Hear the interest rates going up over neXT 3 yrs. Best to get 10yrs fixed … Hear the interest rates going up over neXT 3 yrs. Best to get 10yrs fixed to know what you're paying


they been saying the same for the last few years!
Everyone circumstances are different. I am better getting a 5yr fixed than a 10year. My calculations show that I would need a rise of around 2.5% (ie a base rate of 3%) for a 10 year deal to be better than a 5yr, assuming I will be looking to remortgage in 5 years time. Now I can get a mortgage for around 2.5% & I am calculating I can get a remortgage in 5 years for 4% - Only 10 years I qualify for currently are over 4% because of LTV

Wouldnt touch Nationwide if you paid me.... It was a nightmare when I needed to remove a name from the mortgage (Divorce) and they are the only lender who stings you for an extra 1% on your rate if you want consent to let oO

I've found Nationwide to have great level of customer service. Any changes are done almost instantly. Unlimited overpayments without charge and borrow backs processed in days with no charge.

davewave

If you go through L&C - Zero Fee v.large broker - looks like you can get … If you go through L&C - Zero Fee v.large broker - looks like you can get 2.40%, No fee, 5yr fix, 60% LTV from the Post Office, scroll down on below page...L&C are very efficient and would recommend them, MSE recommends them too.http://www.lcplc.co.uk/best-buys/



MSE more like shove it down your throat than recommend it - that makes me feel nervous. Plus there are loads of bad reviews about them. Seems like a lottery, which agent you get assigned....

before people run off and take advice from this forum they should speak to a Broker, one that's fee free ideally and check Quidco or TCB as well for any cash back.

afly

The nationwide are trying to get their existing customers off their … The nationwide are trying to get their existing customers off their ridiculously generous tracker mortgages we all fell into when our fixed mortgages expired after the down turn. 2% above base + unlimited overpayments + holidays + borrowback + no ERC. Tough sell. We risk rate rises (and they definitely will) but clearly with such long fixes being offered the banks don't expect much movement over the decade



​I'm sure they are delighted with the people who are on trackers of +1.99% hence they have been offering these recently. They are trying to move customers that are on base rate +0.29/0.49/0.79 which were deals offered before the crash. I have a family member who has base rate +0.49 on an offset!

Original Poster

bobcoyle77

before people run off and take advice from this forum they should speak … before people run off and take advice from this forum they should speak to a Broker, one that's fee free ideally and check Quidco or TCB as well for any cash back.



Unless for peolple who do not want to learn and do not understand the basic term in mortgage, my experiece sofar is that they are totaly waste of time. You could easily do it your self using comparison sites and you will find a similar or better deal ..

To get the best deal they will need to invest a reasonable number of time. Free advise mortgage will not going to invest mre than 15 min (say) of their time. So they willl advise whatever they could fimd without investing too much time on your case ....

Also often they are whole market as they are aiming for commission ....





Edited by: "pantaiema" 21st Jul 2015

marathonic

They're 2% above base + unlimited overpayments + holidays + borrowback + … They're 2% above base + unlimited overpayments + holidays + borrowback + no ERC. Earlier this year, I got a 1.29% above base + unlimited overpayments + no ERC from First Direct. I don't get a borrow-back facility or holidays but, in my case, I'd rather a 0.71% discount than these two features.



They were asking about the old Trackers... We're 0.5% above base rate. You can't get anywhere near that now! Saying that we're locking in to a 2.2% (fixed) for 5 years, just in time it would seem.
Edited by: "phil19" 21st Jul 2015

davewave

If you go through L&C - Zero Fee v.large broker - looks like you can get … If you go through L&C - Zero Fee v.large broker - looks like you can get 2.40%, No fee, 5yr fix, 60% LTV from the Post Office, scroll down on below page...L&C are very efficient and would recommend them, MSE recommends them too.http://www.lcplc.co.uk/best-buys/



I am currently going thru L&C with a fixed rate 3 year deal with the Post office @2.19% - £299 fees but with £250 cash back. So I would recommend them as well.

phil19

They were asking about the old Trackers... We're 0.5% above base rate. … They were asking about the old Trackers... We're 0.5% above base rate. You can't get anywhere near that now! Saying that we're locking in to a 2.2% (fixed) for 5 years, just in time it would seem.



They were asking about the 2% + BOE trackers - hence, the post they were actually replying to. I'm well aware of the really good tracker rates that haven't been around for years (and actually have one at 0.5% above base rate on a rental property).

marathonic

They're 2% above base + unlimited overpayments + holidays + borrowback + … They're 2% above base + unlimited overpayments + holidays + borrowback + no ERC. Earlier this year, I got a 1.29% above base + unlimited overpayments + no ERC from First Direct. I don't get a borrow-back facility or holidays but, in my case, I'd rather a 0.71% discount than these two features.



OK cool thank you - I got the same FD deal and was wondering if there had been a lower tracker at some point...

You almost need to ignore the fees - or feed all the numbers in to a spreadsheet and add them up over the entire period of the mortgage you are signing up to. A 5 year with a fee vs. a 5 year without a fee may just be cheaper in the long run.

Mr_Tdontmess

OK cool thank you - I got the same FD deal and was wondering if there had … OK cool thank you - I got the same FD deal and was wondering if there had been a lower tracker at some point...



The lowest tracker rates available 7-8 years ago actually tracked BELOW BOE base rate.

Also consider the early repayment charges on these longer term mortgages. Last time I sold many months before my next purchase and would not have wanted to lose x percent as I couldn't transfer.

Depends how flexible you are or want to be..

any advice please guys n gals? I've got 10 months left on my current 2 year deal, can I arrange one of these 5 year deals in advance or do I have to wait until the end of my current deal? am I getting confused with advance customer there....

marathonic

They're 2% above base + unlimited overpayments + holidays + borrowback + … They're 2% above base + unlimited overpayments + holidays + borrowback + no ERC. Earlier this year, I got a 1.29% above base + unlimited overpayments + no ERC from First Direct. I don't get a borrow-back facility or holidays but, in my case, I'd rather a 0.71% discount than these two features.



I got on that same FD tracker deal (you posted it IIRC, so thanks!). At the time I picked it over a ten year fix they were also offering.

Do you still think it's the right choice?

For anyone currently on a tracker, stick with it. Interest rates are going nowhere in the short-to-medium term. Yes, Carney is banging the drum, but let's not forget the BoE has been talking about rate rises for the last 3-4 years. Never going to happen. At least not until we're dictated to by the international bond market.

That said, for those of you who want the security provided by a fixed rate, this deal is pretty good.

Not voted either way.

I've just fixed in for 2years 6 months at 1.95% but I have 25 years left on my mortgage I felt for me it was better to fix short term and hope I can fix long term in 2years time before the base rate rises more than 1%.

Somewhat pedantic, but shouldn't the OP at least mention which bank/mortgage lender?

Comment

Stu C

Somewhat pedantic, but shouldn't the OP at least mention which … Somewhat pedantic, but shouldn't the OP at least mention which bank/mortgage lender?



Is the big picture with the logo for and letters HSBC not clear enough for you?
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