Fair enough. I bet bath is a lovely place surrounded by the Cotswolds.
Honestly, I just love Bath. We don't need a big place, and we're happy renting where we are to save up. I'd be happy here with a 2 bedroom place for a long time. I lived in Leeds and Manchester prior to this, so I know the price difference is mental! But I still think it's worth it, to me.
Exactly, everything is about compromise in life not want want want, well done you for life planning past want want want now now now (y)
I live in London and a bedroom flat now cost about 400k around where i am! Go further 10 miles from me can get a 300k 2 beds semi (needs doing up!) So I have decided to move city within the next 12months, plan is going to Birmingham and get a 2 bedroom apartment for around 100k. Have u consider moving into another city? Hard decision I know, I thought long and hard about this, but no choice if I want my own place.
Keep going until you're 50 I believe. Then you can use it to either buy a house for the first time, or take it out when you retire. I believe you can have both, but it's useless. You can only use one to buy a house. Unless you want to use the LISA JUST for the pension, and HTB for the house. But yeah, I'm fairly sure the LISA isn't treated as a cash ISA, HTB is only treated as a cash ISA, so it's separate. Don't quote me on that, though.
Posted 14th Feb 2018Posted 14th Feb 2018
Skipton 7-year fixed rate mortgage 2.99%, 90% LTV, no fee
Not many lenders offer seven-year fixed rate mortgages, they tend to be for two, five or 10 years. But if seven years is what you want Skipton is offering: A 7-year fixed rate a… Read more
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!
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
Posted 21st Nov 2017Posted 21st Nov 2017
Skipton 7-year fixed rate mortgage 2.40%
Not many lenders offer seven-year fixed rate mortgages, they tend to be for five or 10 years. But if seven years is what you want Skipton has a couple of products: At 75% LTV 2.… Read more
Ok, thank you for clarifying. I can't imagine they'll go to that much in 2 years though?
Agh I've just had a look and it's called a "remortgage special" so must just be for people remortgaging rather than 1st time buyers. Sorry.
The UK interest rate and the BOE rate is the same thing. UK interest rates are set by the BOE. Banks themselves set their standard variable rate which higher than the BOE rate and sometimes tracks but not always tracks it.
Posted 6th Jun 2017Posted 6th Jun 2017
Skipton BS Lifetime ISA available this Thursday
Can see this getting voted cold due to some negativity around LISA's but Skipton are releasing the first Cash Lifetime ISA this Thursday, with those who registered their interest r… Read more
I guess potentially yes, but the bonus is paid monthly from next year so you'd bank your 25% before any changes and then roll on to a new bonus amount.
Is the 25% government contribution fixed? I'm wondering if successive governments will be permitted to reduce that or scrap it entirely if they find it a significant drain.
think you miss the point. House prices aside, this is one of the most efficient ways in propping up your deposit of you're looking to put towards a property. if you can max 4k a year that's 1k of bonus that outstrips any other savings product FOR housing. Your point is the same across whichever savings product you choose with the increase in house prices. at least LISA gives you a significant chunk a year with those that can max yearly subscription.
Stocks and shares would be the way to go for saving for retirement but cash, even with rates so low, would be far more suitable for saving over the short term. Hopefully more providers will be offering lifetime cash ISAs before the end of the financial year.