Mortgage Deals & Offers

Yes - we had just come to the end of a 5 year fixed and think that was just under 4%.

Actual rates are below. Its a decent deal overall but going from 3.99% to 7% at 90% LTV is too much of a jump for me. 7% until 31 May 2019, then 7% until 31 May 2020, then 7% until 31 May 2021, then 6% until 31 May 2022, then 5% until 31 May 2023, then 4% until 31 May 2024, then 3% until 31 May 2025

Always tricky to tell with mortgages. They don't tend to advertise deals for a length of time - they just update their rates every so often.

HSBC offer some of the best rates out there. Whilst you should always check the market, as an existing customer, with a low LTV (<30%), and assuming you have no intention to move, I’d renew with HSBC on best rate available - you shouldn’t have to pay any Product Fee, and there’d be no legals or valuations required. Take a 5 year fix, and pay it all off in that time with over- payments - you won’t regret it, if you are in a position to overpay. Then boom! The house is all yours in 5yrs time!

Were you already on a fix

Yes you can, but it is a maximum of 10% of the remaining balance each year. So if you had a mortgage of £100k, you could overpay by £10k with no charge in year one. Say your mortgage balance is £88k in the second year then you could overpay by £8.8k with no charge. Source https://www.skipton.co.uk/mortgages/mortgage-hub/benefits-of-a-skipton-mortgage Most of our mortgage deals include Early Repayment Charges (ERCs) if overpayments are made that are more than 10% of the mortgage balance in any one year.

Only a year left, and it's £5000 to exit. Will have to let it run.

Is it not worth paying the early redemption penalty and securing lower rate for next few years? Do some number crunching.

gotta do the number crunching alot of these big fee upfront mortgages are just to make the upfront interest rate as low as possible for advertising purposes. often its advisable to go for the higher interest rate with no fee, a decent mortgage broker will advise best on this..

Ouch...you have been very unlucky

This seems to have been removed. Two-year fix at 1.29% with 75% LTV and £1499 product fee only available now.

They get commission from the lender so be wary that they aren't pushing a deal that benefits them more than you. L&C advised my wife (then girlfriend) to take a crappy Northern rock 5yr fixed rate of 4% in 2011 (right when interest rates were at an historic all time low) We tried them again two years ago when we were remortgaging just to cover as many bases as possible and I was able to find better deals than they came back with. Including simply remortgaging with our current provider.

Are these rates visible anywhere? I went through the app process to get an AIP but it still hasn't shown me the available rates anywhere, don't really want to do the full app with hard credit search without seeing the rate.

Why is everyone worrying about Brexit? Scaremongering. Once we get rid of those pesky foreigners and those remoaners either get behind Brexit or move to their beloved EU then we'll be great once again.... We'll be so rich we won't even need to borrow money for a mortage</sarcasm> Seriously though, with Brexit hanging over us, I am very concerned about the housing market and the cost of borrowing going forward.

I'm going for the 10 year 2.49% HSBC mortgage. Unsure about whether rates will stay low for a long time due to Brexit but figured that I don't mind paying £1100 a month instead of £1000 a month to have certainty for a decade.

I'm still waiting too, they verified all but 2 things, within couple of days.

I applied for the Santander 1.74% deal also. Waiting on them to process. How long do they usually take to move their b*tt?

Yep my five year fix is lower than my lifetime tracker I’ve had 8 years, I’ve noticed hsbc have pulled all lifetime trackers, so it’s no wonder it was so simple to take the fix.. a fix unless you get lucky will always be cheaper long term

Cant see rates dropping, i think uk follows what happens in usa and their rates are heading up, though not sure what if any brexit impact will be.

Just gone for this - was on 1.79% tracker with HSBC, but it has a shoulder (so can't drop much further) and I was able to switch online in 5 minutes to this 1.74% deal. Thanks!

Hsbc are also offering 2.49 % for 10 year fix and no fees

Oooh - unlimited overpayments. That may seal it for me - will give them a bell.

yes, the bail out was because the repackaged debts were backed by sub-prime mortgages but were sold deceptively under A+ credit ratings to other bansk and institutions. Insurers could cope with all the defaulting loans up to a limit, that's when the ultimate rescuer i.e. the tax payer enters the picture to bail out. Banks and whoever matters in financial markets knew what was happening and what was coming but the whistle blowers are more than often labelled as 'project fear' or conspiracy theorists. Unfortunately, financial system is too complex to understand for majority and when this majority doesnt understand it, they think probably no one does.

Rolling the fee into the monthly payments means you pay interest on it so it will cost you more overall. However it may suit some people who don't have the cash up front.

There may be a difference in rates between those the banks offer direct and through broker/intermediary channels. I'd always advise going to a broker but mortgage comparison sites are definitely worth a look to see what's out there. Also the rate/fee combo makes it tricky to declare a best buy or hot deal - if you have a big mortgage the rate is more important and the fee less so, if your mortgage is smaller the fee may play a bigger part. The key is doing the sums based on your individual figures/mortgage amount. Hope this helps.

Please make it clear they operate a discriminatory policy of only considering UK citizens for their mortgage applications regardless of the individual's financial health, responsibility or creditworthiness. No deal is better than a bad deal.

Excellent deal if you only have a 10% deposit. Although since UK rates are historically low I would recommending a fix with a larger deposit, maybe 20%, fixing for a much longer period - 5 or 10 years. Depends on your individual circumstances though I guess.

Can I make overpayments? Yes, you can make overpayments of up to 10% of your mortgage balance in each year of the fixed rate period, without incurring an early repayment charge. If you exceed your annual overpayment allowance, an early repayment charge will be charged on the amount you have repaid above the 10% allowance. At the end of the fixed rate period, you are able to make unlimited overpayments. Any early repayment charge applicable will be calculated based upon the percentage charge at the time of the overpayment as detailed within your European Standardised Information Sheet (ESIS) document. Can I pay off the mortgage early? If you fully repay your mortgage whilst you are in the fixed rate period you will incur an early repayment charge. Details of the early repayment charge will be set out in your ESIS document. Will I incur an exit fee? No, we do not charge an exit fee.

2.48% is for their 86% to 90% LTV. For the 91% to 95%, the rate is 3.85%. On a 150k mortgage, it would cost you around £5,200 more interest than the M&S deal over the two years. It works out better for the 86% to 90% range.

Danske do a 95% LTV and give you up to £1500 back in cash if you take 150k mortgage at 3.85%. No fees.

Some investors are talking about 3 to 5 more of these "market correction" selloffs. When interest rates rise to 3 or 4 percent, markets will crash. All of this before 2020. Then, the recession... Peter Schiff explains: https://www.youtube.com/watch?v=ZAEUTVV_voo&t=3s

Its all i wanted was to extend my fix you think they'd want the money bit someone was saying about funding. The funny thing is they would not be lending anymore money. They still want to charge the fees. So in two years i will not be using tsb for my next mortgage deal! Tey're loss

Today's stock market crash is a symptom of the toxic derivative markets at play behind the scenes. Usually, if you're seeing the stock market plunging like this, you see the bond markets rising as the money flies to safety. It hasn't gone into spot precious metals, bitcoin, or anything else. This is not normal. Is this the start of the loss of centralized control? Who knows. Please be very, very careful if you are thinking about a mortgage.

It won't be good for the young ones if their parents don't prepare them.

Good for you!

Lots of people think brexit will be a trigger, but there will be no brexit, sadly. So, yes, if only you can buy it now, don't hesitate. Although I hope you are right, that would help me to get one as well.

Supply and demand sunshine you really think supply will overtake demand in the next year or two your dreaming

Not that long... 1-2 years max

Be waiting a while then

Thank you. Really helpful. Need to get on the property ladder waiting for market to crash.

Went for a 5year fix at 1.99% for a 10 year with an LTV of 26% no fees with First Direct what a slog , been many months only handed the signed mortgage and deeds to solicitor on Wednesday. Can't imagine what it would be like with going for a 100%!

Stricter lending criteria today I believe

less than 10 years to forget our lessons. looking forward to the impending pop & crash.....

You can get 100% mortgages now again

You can't change it unless you want to pay some fees (1-2% of the mortgage in the last year). If you remortgage then the new mortgage provider will pay off your current mortgage when the fixed therm will finish. You can sort it out normally within 3 months before the end of your fixed period as most banks gives 3 moths validity for thier remortgages offers but you can find some places where that offer is valid for 6 months so you could start dealing with it 6 months before your fixed runs out.

Not voted either way, but whether you would save with this low rate 2 year deal with £999 fee would depend on the amount borrowing. Just checked on HSBC and they are still doing their 5 year fixed fee saver for 60% LTV at 1.99%. On £150k mortgage OP's deal would save you £201 over the first two years taking the fee into account. But if only borrowing £90k you would pay back £279 more on OP's deal compared to HSBC, plus with 5 year fixed you would still have a fairly low rate locked in for another 3 years, assuming interest rates start to creep up over the next 2 years.

Agreed IF there are other mortgage deals available at same interest rate with no fees....not sure if is or not haven't looked, but I thought from recollection there were 2 year deals at 0.98% if you had 50%+ equity. If no fee deals are at a higher interest rate then this may actually be the cheaper option.

I’d expect a mortgage with no fee if I had a 50% deposit! £999 fee on a 2 year fixed mortgage is adding another £41 pm into your repayments! I got a 2.0%apr rate on a 5 year deal with no fee,Granted I had 35%LTV mortgage but still £999 is a ridiculous fee on a 2 year deal.

Taking a 2 year mortgage right now will leave you walking straight into an interest rate minefield in 2 years - 5 years is the sweet spot, build up plenty of equity to offset the further interest rate hikes .... they're only going one way, up!!

Voted hot. If you could find me a similar deal in 14 months time I'd buy you a beer.

Nothing to do with credit score, couldn't get any higher, nothing about affordability, never missed a DD in the years of having a mortgage and no other credit etc plus this was a remortgage. There doesn't have to be a reason given you are quite correct, and FD will have their own additional criteria however sometimes it feels illogical

I don't worry about your credit score. I just tried to find a reason, because sometimes people create quickly opinion without finding true. Maybe LTV was an issue. I had £190,000 loan on £400,000 property and maybe it is why i didn't have an issue, but anyway it is good that everything had a good end with your mortgage, even if it is not first direct.

I tend to agree, but many analysts don't. There are predictions of multiple rate increases in 2018 alone, rising up to 1.25%. However, in the wake of Brexit, I see the undeniable uncertainty to stall the economy for at least 10 years.

Nope, not me. Depends how well you think the economy will do in that period. Base rates will need to go up 6 times before you would gain, and I think we'll be waiting a long time for that to happen.

Firstly, I bank with First direct, they are indeed a fantastic bank....at current and savings account banking may I add. Secondly, my credit score is fine, you've no need to worry. 400k mortgage application never actually declined with first direct, but the continual, 'can you get more deposit' and do this, do that, 3 weeks later I gave up. Had mortgage with Halifax 3 days later. FD are notoriously and ridiculously picky with their mortgages.

It annoys me that with a phone you can recontract. But on a mortgage you can't i offered TSB that i would renew my mortgage as three years left of a five year fix. I would take this deal and i'm locked in for ten years. You think for the money they would do it. Nope you will still have to pay exit fees! Yup i understand if i wanted to leave. But in a way i'm extending my mortgage. Nope you habe to pay the fees. Ok fair enough i will pay my three years and will not be using TSB once when the deal ends! Seems silly

unless rates creep up after 4 years and then you may be stuck paying a lot after a 5 year fix ends!

Well technically you can (angel) depends on interest rates at the end of the 5 year deal and how much money you still have on your mortgage and how long it will take you to pay the rest off.

shame about max 60% LTV (for me, atleast)

I can't find that deal, is it for first time buyers only? We are currently remortgaging from another lender with 56% LTV but it doesn't give it as an option on their website for me.

When I was taking my mortgage I had an offer from my bank (Natwest), another one from Barclays and ended up with my broker offer from Halifax. Nothing will be made by the bank (like valuation) unless I accept the offer. All I want is to secure a good rate. From this what I know they will automatically valuate my house + amount I want to borrow = LTV% and offer can be made. Then if I accept it they will start the process (valuation etc). It looked that way when I was applying for my mortgage, the initial value of my house (to calculate LTV% and get rates) was the price I wanted to pay for it and then when I accepted it they have done valuation just to confirm my house is worth as much as I want to borrow. Am I wrong at any point ?

You might want to check terms. As I'm sure if you reject the offer any fees included as part of remortgage I.e. valuation or any part of any conveyancing work done todate becomes payable. Also if you reject and reapply in April how long will you have to get your new offer in place prior to old product ends

Bank gonna issue me an offer in January for remortgage valid for six months. I can take it or leave it, they don't care unless I accept it. In april/may I will check the market for a better option, if not found I'm gonna accept the one I already have. That is the plan 8) PS: as it will be my first remortgage I might be wrong about the way it works but it should be pretty straightforward imo

As in pay the mortgage off and then take a new mortgage! There is a big problem with that though! Generally you need the new mortgage to pay off the existing! If you apply for a new one they will know you have the existing. Unless you have a spare hundred grand sitting around. Mortgages are not structured like credit cards where you can take on a new one and then decide to pay off the existing one. The banks will pay the solicister not you. And on a mortgage application they will know you have an existing so will not lend you the money unless you remortgage. Your best bet is to pay off the mortgage quicker by making over payments if you can. No interest is due on extra payments you have made

Thanks for the info, good to know about FD too (y) Would be a bit difficult to remortgage with 95% LTV :D I was looking at their other options