Mortage Advice


    I've the current mortgage offers at the moment and not being any good with finance, i have a clue what to go with and was really hoping for a bit of help on this matter.

    1. Base Rate plus 1.99%. So 2.49% today (Set up fee of £1000) - For life
    2. Banks base rate less 0.95%. So 3.94% less 0.95% so 2.99% (Set up fee of £300) - For 2 years then reverted back to bank rate of 3.94%

    Obviously these are fully dependant on the rate of both the bank and of the BoE.

    Which of these looks at first hand the most sensible to chose from. Feel a bit lucky I get to chose as lots of my friends cant even get mortgages, so its good to have a choice.

    Help would be really appreciated on this. Obviously this is purely one persons advice and it'll be my decision to go with whichever I chose to go for.



    If your not good with finance and changing your mortgage every few years than go with the first option.

    Do you have an early settlement fee on the first one. Realistically, the Bank rate isnt going to change from 0.5 for about 6mths at least BUT if you have to pay to be released from ur mortgage after 2years then go for the 2nd.


    vinylandtrinkets;7871040 sure if you can see the info ive entered in to the calc, its total and utter rubbish. Abbey offered me a fixed rate at 3.24% for 2 years saving me on average £50 a month.OP if you are no good with the concept of mortgages ( i used to be the same) get advice from your bank or an independent mortgage advisor

    No I can't.

    Glad you got a good deal :thumbsup:


    go for a one account

    haven't got time to work figures out now but why pay a £1000 fee for a mortgage, i have always gone for a fees free one but i don't owe as much as yourself. Work it out against a fees free one over a couple of years to see if you save more than the £1000 fee



    i havent changed yet we have to wait until May 4th ( court date) to see … i havent changed yet we have to wait until May 4th ( court date) to see if the builder we are suing is going to buy the house off us as he said he would in Nov 09!my outstanding mortgage is only 70K 2 months before i can change companies and click no then yes to all the others and see what is says hun

    I will have a look in a bit.

    I have got a couple of things to do x x
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