Groups

    Mortgage Help - Advantages/Disadvantages of These 3?

    Hello,

    I have no clue what these figures mean, Wondering if someone would be able to explain the advantages/disadvantages of these three mortgage loans?

    (the first two cost £999, the third one is free to setup)

    halifax.co.uk/mor…asp

    6 Comments

    Banned

    well you will be paying different rates on each one for the 1st 3 years, confused to what you mean by you dont understand

    1st one is 2.49 above base rate guarenteed for 2 years
    2nd one 2.64 above base rate gtd for 3 yrs
    3rd one 2.79 above base rate gtd for 3 yrs

    u need to work out if paying the 3rd rate cost more than you would save on the other rates coz the 3rd one if free.

    depends on how much you are borrowing really

    Original Poster

    Ohh so if the difference in interest over three years is less than £999, then i'd be paying extra for no reason just to setup on the third one?

    and if for example after the 2nd year, the 1st choice base rate went up... then I would have been better choosing the second one, as its fixed for 3 years?

    Thanks!

    Banned

    robjamuk

    Ohh so if the difference in interest over three years is less than £999, … Ohh so if the difference in interest over three years is less than £999, then i'd be paying extra for no reason just to setup on the third one?and if for example after the 2nd year, the 1st choice base rate went up... then I would have been better choosing the second one, as its fixed for 3 years?Thanks!



    so you just need to see if the difference is less than £999 and they are all fixed for 3 yrs, and the same rate after three years


    edit - whoops i thought they where all 3 years, sorry


    you will also need a 25% deposit as they only loan you up to 75%
    Post a comment
    Avatar
    @
      Text
      Top Discussions
      1. USS Indianapolis wreckage to be considered as a war memorial78
      2. Supermarket may have sold Sausages & Other Pork products may have been inf…1328
      3. Meerkat Movies (2 for 1 Cinema Codes) | Official Trading Thread415414088
      4. Just heard this...2 ★★★★★★★★★★★★★★ congrats to all on 392k ★★★★★★★★★★★★★★7764334

      See more discussions