5 yr fixed mortgage deals please help

19
Found 28th Jan
Hi all

It’s time for us to change our mortgage and was wondering if anyone can help us find a good deal.
House is worth £210,000, owe £90,000. Looking at a 7 year mortgage term.
Anyone point me in the direction of decent deals please
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Call L&C no fee mortgage broker. 0808 292 4779

landc.co.uk/bes…es/
Use the filters. 1.79% fix 5 years. 60%LTV. fees £993. NatWest through L&C
Edited by: "davewave" 28th Jan
Original Poster
davewave35 m ago

Call L&C no fee mortgage broker. 0808 292 …Call L&C no fee mortgage broker. 0808 292 4779https://www.landc.co.uk/best-mortgage-rates/Use the filters. 1.79% fix 5 years. 60%LTV. fees £993. NatWest through L&C


Thank you
traythegreat1 h, 9 m ago

Thank you


Btw you should take a look at 10yr fixes since rates may go back up in 5 years, rates are seriously low right now.
I would set it at a 10 year (get a five fixed deal) but overpay so that you pay off in 7. That way if you have any problems it gives breathing room and if you repay in 7 years it’ll cost no more than doing it over 7.
Original Poster
cmdr_elito15 m ago

I would set it at a 10 year (get a five fixed deal) but overpay so that …I would set it at a 10 year (get a five fixed deal) but overpay so that you pay off in 7. That way if you have any problems it gives breathing room and if you repay in 7 years it’ll cost no more than doing it over 7.


Yeah that’s a good idea but I’ll have to ensure I get a mortgage that allows overpayments as I’m sure our current Santander deal doesn’t.. do you save on interest if you make overpayments??
Yes you do. Any overpayment comes off the capital, reducing interest. Most mortgages allow quite a generous overpayment amount. My mortgage for example 750 a month allows me to overpay 1600 a month penalty free.
Original Poster
cmdr_elito4 m ago

Yes you do. Any overpayment comes off the capital, reducing interest. Most …Yes you do. Any overpayment comes off the capital, reducing interest. Most mortgages allow quite a generous overpayment amount. My mortgage for example 750 a month allows me to overpay 1600 a month penalty free.


That’s a fantastic idea that we never even thought about.. thanks very much for that great tip! Just been doing some calculations and it seems the best idea all round.. you’re a star
traythegreat5 m ago

That’s a fantastic idea that we never even thought about.. thanks very m …That’s a fantastic idea that we never even thought about.. thanks very much for that great tip! Just been doing some calculations and it seems the best idea all round.. you’re a star


Well I took my mortgage over 35 years (instead of 25), but am spending cash I earn getting house sorted out inside for the moment, then will start to overpay. We took financial advice on our mortgage and what I mentioned is what our advisor told us. He was really good and extremely busy guy!
Nationwide are doing a five year fixed rate of 2.09% no fee. I would go for a no fee mortgage, usually the fee costs you more than a slightly higher interest rate would over the length of the loan.

I don't think you need a mortgage broker - all they do is search the market for good rates, most of the time they'll find the same ones that you find.
And the ones that say they charge no fee - trust me you will pay a fee, it's gets added to your mortgage.

I think money supermarket also do a comparison of different mortgage providers, it can give you a good idea of what is out there.
I've found that building societies tend to have some decent rates for longer term mortgages, they aren't always on the comparisons websites.
Money supermarket says
Newbury building is 1.74% over 5 years
Edited by: "databar" 29th Jan
I would normally second L&C, they are really, really good. However, at the moment I am going with the Nationwide 2.09 5 year deal that Bigfootpete mentions. Can overpay 10% each year and no fee, is a really good deal.
I came to recommend nationwide for the overpayment options.
It's 10% of the original loan amount per year so an extra £9k per year, potentially you could clear a 10 year mortgage in on a 5 year fixed.
Original Poster
Bigfootpete6 h, 39 m ago

Nationwide are doing a five year fixed rate of 2.09% no fee. I would go …Nationwide are doing a five year fixed rate of 2.09% no fee. I would go for a no fee mortgage, usually the fee costs you more than a slightly higher interest rate would over the length of the loan.I don't think you need a mortgage broker - all they do is search the market for good rates, most of the time they'll find the same ones that you find. And the ones that say they charge no fee - trust me you will pay a fee, it's gets added to your mortgage.I think money supermarket also do a comparison of different mortgage providers, it can give you a good idea of what is out there.I've found that building societies tend to have some decent rates for longer term mortgages, they aren't always on the comparisons websites.


Thank you for your advice.. it’s very helpful
Bigfootpete6 h, 49 m ago

Nationwide are doing a five year fixed rate of 2.09% no fee. I would go …Nationwide are doing a five year fixed rate of 2.09% no fee. I would go for a no fee mortgage, usually the fee costs you more than a slightly higher interest rate would over the length of the loan.I don't think you need a mortgage broker - all they do is search the market for good rates, most of the time they'll find the same ones that you find. And the ones that say they charge no fee - trust me you will pay a fee, it's gets added to your mortgage.I think money supermarket also do a comparison of different mortgage providers, it can give you a good idea of what is out there.I've found that building societies tend to have some decent rates for longer term mortgages, they aren't always on the comparisons websites.


And people ought to bear in mind nearly all borrowers add that fee to their mortgage so a £1000 fee will cost considerably more than that in the long run.
Edited by: "OllieSt" 29th Jan
joedastudd3 h, 30 m ago

I came to recommend nationwide for the overpayment options.It's 10% of the …I came to recommend nationwide for the overpayment options.It's 10% of the original loan amount per year so an extra £9k per year, potentially you could clear a 10 year mortgage in on a 5 year fixed.


10% overpayment per annum is pretty much industry standard on fixed rate mortgages.
Edited by: "OllieSt" 29th Jan
OllieSt29th Jan

10% overpayment per annum is pretty much industry standard on fixed rate …10% overpayment per annum is pretty much industry standard on fixed rate mortgages.


Standard is 10% of the remaining balance, which works out a lot lower especially if your looking at overpaying as much as possible.
Your talking £9k first year, £7.2k second, £5.8k third, etc
I would call Which mortgage company, name says it all. They charge 500 pounds but worth impartial advice
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