Expired

Best mortgage deals now??

15
Found 27th Sep 2008
My 5 year fixed rate mortgage has just expired with halifax and ive no idea what to do now? Are there any good deals out there at the moment, im guessing its not a great time to be doing this with credit crunch etc. ?

Otherwise im going to end up paying the standard rate which is big increase on what ive had for the last few years!

Any help appreciated.

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15 Comments

anyone with HBOS is ducked royal

I would look at the HSBC Life Time Tracker

See here for details hsbc.co.uk/1/2…n0a

howdy

might be worth holding out for a bit as the interest rate is *likely* to fall in the next 6 months and then you could get a better fixed deal if you dont want a tracker...

i would have a look on moneysupermarket.com to see what deals are about (if your lucky!!!)

look at the Martin Shaw site-the fella who is on GMTV-he usually has good advice.....

moneysavingexpert.com

Feed your details in here and see what it comes up with:
charcol.co.uk/
(I switched a few years ago and compared to the other sites this found me the best deal, but obviously shop around)

dt_matthews;3064169

might be worth holding out for a bit as the interest rate is *likely* to … might be worth holding out for a bit as the interest rate is *likely* to fall in the next 6 months and then you could get a better fixed deal if you dont want a tracker...


..or get a "capped" deal. That way, the price will fall if interest rates fall but won't go above a pre-determined amount.

I suggest you try an independent mortgage advisor - not a financial advisor. Someone who specialises in offering advice via the whole mortgage market. Good advisors will offer their advice free. Thery may charge a fee for arranging a mortgage but that means they should take you through the complete process and be there, holding your hand so to speak, right until you complete on the mortgage. Fees should not be paid upfront but only if a mortgage completes - no mortgage no fee!
C&G have one or two good fixed rate deals. There are still some who offer competely fee free mortgage deals. There may be a chance that the base rate may fall beginning of Oct. This does not mean that the lenders will pass the decrease on. A mortgage advisor should go through a complete fact find with you after explaining and giving you written information regarding their service and fee structure. Once they have completed the fact find they should be able to advise you on the very best deal for you. If you go to a high street lender then ensure they do not do a full credit serach as this could leave a foot print on your credit file. Ensure they only leave a soft footprint as the more lenders who carry out a credit serach and register it on your credit file the more difficult it could become to obtain good credit.

c &G have a good one five year fixed for just over 5% i think at the mo this is a very good deal hope you can manage martin lewis suggested you get a cheap deal a.s.a.p on his tv prog other night as all offers will be running out fast hope this helps xx

Original Poster

Havent have much luck yet, halifax charge £995 fee to change to another product such as new fixed rate or tracker....only worked out £10 month cheaper after this was added on! Guess i'll just hold out at the standard 7% rate my mortgage has reverted to and wait a while to see if anything new crops up without booking fees as somebody suggested here.

I used a broker called london and country which is recommended on money saving expert. They managed to save me about £200 per month on what I found myself. They are free and all done by phone or email. I would definately use them again..

There is no commitment, so may be worth giving them a call..

Original Poster

Thanks for that tip, just called them and they were really helpful......got more information in 20mins that i got in 3 hours yesterday going around mortgage places!

Told them all the info and they found some much more competitive rates and gave some good advice. Havent sealed any deals yet but they are going to give me a call back later and hopefully i can get this sorted. Thanks again.

nickb43;3082632

Thanks for that tip, just called them and they were really … Thanks for that tip, just called them and they were really helpful......got more information in 20mins that i got in 3 hours yesterday going around mortgage places!Told them all the info and they found some much more competitive rates and gave some good advice. Havent sealed any deals yet but they are going to give me a call back later and hopefully i can get this sorted. Thanks again.



Yeah, i was very impressed and as you said they only really take 20 mins to do it. Hopefully you get a deal you are happy with..

Banned

I would seriously speak to your own bank. In these times where no one wants to lends money, and they are all out for capitalising on the little you have, the best option is with the bank that knows you best. They will be able to offer you the best deal.
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