Mortgage Deals & Offers

i took out tracker mortgage a year past August and got £500 as a first time buyer. The Bank of England rates went up so my Mortage was due to go up in December 2019. I just happened to check their website and they had as slightly cheaper tracker mortgage. I went into my local branch and asked if I would be able to swap to the new rate given I'd only made two payments to my new mortgage and they said yes plus I'd get the £100 switching bonus you refer to. So that was me £600 up just before Christmas. The rates changed again and my so did Nationwide, as they had a slightly cheaper rate again so clicked a few buttons and changed again. Yip £100 cash back again. I only had my mortgage a year and I ended up with an interest free mortgage when you take the cash back into account plus money in my pocket. Ok it wasn't a large mortgage compared to many but still scary to me. So I don't think there is any limits as to how often you can switch on a tracker as I certainly had no problems and the staff at my local encouraged me. No sign of additional credit checks either. Hope this helps.

Nationwide by default pay £100 for each account switched. There was a thread a while back and one chap had 5 accounts. If your fixed is due to end they pay £100 to swap to penalty free tracker and again of you then swap into a fixed later down line.

Sean, you've missed my point my friend. You would have got cashback from broker and Nationwide. Like I did, this is what I was implying. Thanks for posting and spreading the savings! All the best.

Yeah I have looked but if you are switching between trackers it'll work, but it makes it pointless if you choose a product with fees. Its an interesting proposition and to be honest if they drop the 2 year tracker I'm going to give it a go and see if I get it again

I wonder how often you can get this. If your in a tracker you could technically switch a few times a year if the rates hold. Perhaps it’s capped at once a year. Could prove an interesting loophole.

Thanks op Was paying over 4% with Halifax so tried and got a fixed deal with these for 1.64% Well happy

£2090 a year on a £100k mortgage is a massive saving I always start looking 3 months before my old deal runs off so it goes over on the day.. sod SVRs I’m in the fortunate / unfortunate position that my mortgage is now down to the minimum levels of most providers so Ill struggle to get mortgages now and hence the reason I’d never pay a fee upfront Big mortgage and the fees offset the cost for better rates

If anyone knows about mortgages I applied and they want to speak to my employer to check my wage and there send someone to value house it ect as I want to remortage I have 65% ltv ..does this mean I have a good chance of being accepted for it ? They said they will be in contact with a couple of days if so I can save £130 a month

Still gone through with it .there coming to value the house ect .I'm with Halifax on 4% at moment variable rate 😣

JUmps to 1.91% for 65% Seems ridiculous as a bank / BS would treat both as fully secured.. banks general write down property to 70% on balance sheet

What if the mortgage lender doesn't actually have that money to lend out, and mortgages are just based on your ability to pay?

Free but full of adds like most apps these days. Why is this a deal am I missing something?

I don't usually say this, but this is one app where the ads are worth it. He's done a cracking job on this. Also the ads aren't intrusive in my opinion, so ok.

To load all the adds that it pushes?

Looks good. Cheers OP

Paying fees in my case, for £35k and less than 5years term is aboolutely pointless, as reduced interest wouldn't pay off the fee amount. So no fee deal for me only.

all in the timing, last time i looked you could get short fixes £0 fee and 1.25% hence take out a short term fix to save 1.5% on the 2.75%, and save the cash (overpayment funds) elsewhere earning interest, when the fix finishes you go onto a SVR, at which point assuming you can pay off the mortgage with no completion fees use your savings to pay off the entire mortgage (assuming T&Cs ok, some companies charge a fee to complete) but presumably you are lump summing monthly so the interest you pay is reducing anyway.. you can get 1.5% fixes (but they all seem to be a £995 booking fee) maybe an MA knows of some deals with zero fee,

1 year fix?? Sorry, but can't see any sense doing so. Could you explain? Fixed rates are generally higher than tracker rates. So why would I want to fix it now, hoping for lump sum paying off mortgage if I could do this on existing condition? I just want as said earlier, similar condition to what I have now, but with less interest rate.

Probably worth speaking to a mortgage advisor but one idea is take out a one year fix at a low rate knowing you will go onto a SVR (Hsbc 4.19%) at which point you make the lump sum and pay off the mortgage in full , depending on the svr terms. Maybe one for a few years time, The trackers long term will always be lower interest than fixed as the fix you are paying a premium , unless You time it well or get lucky

My aim.. Being able to make overpayment this is why I am happy with tracker. And pay off mortgage in less than 3-5years. Ideally same condition as now but with better interest rate. Btw I'm 38

Halifax have 300+ different products. 1.42% 2 year fixed up to 75% ltv and 1.85% for a 5 year up to 60% ltv are the lowest rates they have currently but may not be the cheapest as that depends on other variables like loan amount etc. Totally pointless posting rates for any lender when there are 1000's of variables and products to be considered.

Halifax charging 2.25% for 2yrs fixed and 2.69% for 5yrs fixed on 32% LTV. I think that's criminal

Depends on income. Someone on sub 50k is unlikely to find a lender who will do 5 times income. If your a professional ie accountant/doctor then 5.5 is possible maybe even higher. Income multiples are only a part of the calculation as debt and household expenses also need to be considered.

5x income? Isn't that pretty poor financial advice/management? These are the same folk with a 5k miles per annum leased BMW on the drive.

A mate of the father in laws, Kingston I think the firms called

The rate has gone up to 1.44% now. Thats a shame. Expired what I believe to be the cheapest mortgage deal ever to be put on HUKD for homes under £1million.

Oh, so not suitable for veggies like me? Kindest regards

Early Repayment Charges:2% of balance repaid in year 1, 1% of balance repaid in year 2

You can move your mortgage if you sell house ti by another one, obviously if you plan on downsizing you could end up with an exit fee. I've just fixed for 10 years @ 2.54% but only 5yrs into a 20yr mortgage so wont be looking to downsize in next 10.

Just here for the armchair economist comments (highfive)

I may pop along to learn.

If you are chancellor, because you can.

Then I'm oot.

I wouldn't have thought so. Best take your own.

Will there be free tea and biccies?

My 1.94% 5 year started today... no fees and no hassle.

Did you find the 1.94?

How much you put down a deposit?

First direct 2.29, no fee, 5y fixed. Cannot see 1.94

I've just applied for their 5 yr @1.94% no fee

Did you find out any more about hidden costs with this deal? I've been looking at the same deal (the initial interest rate is now 1.49%), and it looks competitive, but I obviously don't want to get walloped by additional costs that weren't made clear at the outset.

It’s the hidden costs that disappoint with this offer. On face-value this is a competitive mortgage, but after completing an ‘application in principal’ my wife and I soon found that there are a lot of additional costs involved, that are not clearly stated. I’ll update this if I am wrong, but if the additional fees are what they appeared to be last night, our application will be shelved.

Yes, getting the best deal every two years could end up costing more than getting an OK deal and just sticking with it for ten years...

Two-year fixed rate would also imply you would be potentially be paying product fee in another two years for yet another deal

Anyone can advise on how much you have paid in legal fees when remortgaging? As far as I know there are three main costs to take into account when changing provider: product fee, valuation fee and legal. Some providers will cover some or even all of them, some will give you cashback, so comparing takes some time...

The morning w you are 3 we we we we 22nd w the 22nd E3 12th class Pakistan 222 22nd 23rd November to 23rd 22nd 2223322 E3 Q3 net

Damn, just went to go for the 5yr 75% LTV deal and it seems FD havshiked their rates. Gutted :-(

They are a strict lender like hsbc and being an existing customer means nothing to them in terms of lending. They will scrutinise your bank statements ins and outs with a fine tooth comb and like clean credit history.

Only 0.05% extra for 75% LTV. Anyone have any experience of applying with first direct as an existing banking customer?

i have the opposite 60% equity in my property.

My first/current mortgage is with YBS and they were genuinely a pleasure to deal with. After Nationwide messed me around for months and kept sending me to generic call centre staff, YBS approved within a week with a dedicated rep. Excellent service.

They have a nice 5 years fixed term mortgage as well. 1.99% with 995 fee wth LTV less than 65%. I am at Halifax at the moment and looking for a new 5 years fixed term mortgage. The best Halifax can offer me is 3.04% with no fees but it is still more expensive for me than switching to YBS.

Everytime !. I read this as Yorkshire pudding society, get excited and then a quick let down. (annoyed) .

Thanks OP, Just doing some searching for mortgage deals as we're saving for our first home so this may be of use. That's a pretty good introductory rate, the SVR of 4.99% is a little bit of a pain but alas. But we'll see how it compares against the others.

The rate why up the day after I applied. We had been warned by the broker though so we got our application in quickly.

Fd 1.94 (60% ltv) fixed for 5 years with no fee works out cheaper for me. Plus I can only see 1.89 on Sainsbury’s now

The only way is up........fix while you can but watch out for those fees if you have a low amount left to pay.

No nerves here. Though going by your delightful response. Your nerves are frayed and dinner is noodles again.

Looks like a hit a nerve must be ur dads company