Mortgage

[daytripping]

Most folk would go to an IFA for mortgage advice but i'm going to put my trust in the vast life experience of the hat posters, have a fixed term mortgage that's came to the end of its fixed period, what to do now??

 

Rates are probably going to fall again before they rise but as the're so low right now does anyone think it would be a good time to take an extended fix rate term? I'm looking at 7 to maybe 10 years, 7 years especially looking like a not bad rate, of course the gamble is you pay more than a smaller fixed term but maybe worth the long term gamble?

 

Or let it roll on a tracker?

 

With my provider the fixed terms are mostly £999 as a fee, am I right in thinking this would be added to the mortgage?

 

Thanks in advance.

[Poodler]

Should be asking for money aff due to Hamiltons darkening the neighbourhood.

[daytripping]

Should be asking for money aff due to Hamiltons darkening the neighbourhood.

 

It's like the united nations on my street min, the cat can't keep up, so many gardens to shit in, not enough hours in the day.

[manboobs109]

Not sure about rates and that but a mate of mine who worked in a bank told me never to add fees to a mortgage if you can avoid it. The interest on the extra grand will add up over the years.

[E-P-K]

Not sure about rates and that but a mate of mine who worked in a bank told me never to add fees to a mortgage if you can avoid it. The interest on the extra grand will add up over the years.

 

 

If you canna afford the mortgage fees, then best you dont get a mortgage.

[Suspect Device]

HSBC are doing good rates if you've got 60% LTV.

 

Or they were.

 

Mind you, I know f all because I got a fixed rate instead of a tracker just before the Brexit vote and that was the wrong chioce .

 

In hindsight.

 

There are folk saying that the BoE rate will go down to 0.1% befor the end of the year but who knows?

[Tord31]

interest rates could actually go down closer to 0% before christmas

 

depending on your LTV% you can probably lock in a rate below 2% which seems pretty good

[Tord31]

HSBC are doing good rates if you've got 60% LTV.

 

Or they were.

 

Mind you, I know f all because I got a fixed rate instead of a tracker just before the Brexit vote and that was the wrong chioce .

 

In hindsight.

 

There are folk saying that the BoE rate will go down to 0.1% befor the end of the year but who knows?

Didn't see this one before posting.

 

Pretty much. I took a five year fixed with hsbc in feb 2015 and although I haven't got round to it I'd possibly be best paying the early repayment charge and getting their latest deals instead

[daytripping]

interest rates could actually go down closer to 0% before christmas

 

depending on your LTV% you can probably lock in a rate below 2% which seems pretty good

 

1.89% over 7 years is tempting me, fair saving on my current deal and no worries about rates rising for a long time.

[King Street Loon]

Most folk would go to an IFA for mortgage advice but i'm going to put my trust in the vast life experience of the hat posters, have a fixed term mortgage that's came to the end of its fixed period, what to do now??

 

Rates are probably going to fall again before they rise but as the're so low right now does anyone think it would be a good time to take an extended fix rate term? I'm looking at 7 to maybe 10 years, 7 years especially looking like a not bad rate, of course the gamble is you pay more than a smaller fixed term but maybe worth the long term gamble?

 

Or let it roll on a tracker?

 

With my provider the fixed terms are mostly £999 as a fee, am I right in thinking this would be added to the mortgage?

 

Thanks in advance.

@@Stoney

He's your man.

[daytripping]

Just checked Nationwide, not beating Barclays.

[reekie_dock]

Just checked Nationwide, not beating Barclays.

 

Am with Nationwide, absolute cunts having problems removing a person from my mortgage fucked me about something rotten. Went in to see an advisor and they sent out a ferg from Nigeria she was a complete zoomer!!

 

Soon as my deal finishes in Feb am legging it quicker than she can tackle a zebra.

 

Well that is if am in full time employment or am fucked. Speaking of which does this just revert to the basic Interest rate when my deal finishes ?

[BrianFaePerth]

 

It's like the united nations on my street min, the cat can't keep up, so many gardens to shit in, not enough hours in the day.

This your cat Dayts?

[Poodler]

Hahaha +1

[King Street Loon]

This your cat Dayts?

Haha, nae bad.

That's quite good for you.

[Localfitbafan]

I found Nationwide ok. What made them competitive was what they switch you to once the fixed rate is up (helps if you cant be bother renegotiating) Years ago I switched to a fixed rate with them and when the deal run out in 2009 they automatically transferred me to a deal better than anything that was on the market at the time (tracker at base rate + 2%). I was advised to take a new fixed rate deal, at the time the best going was 4.89% but I decided to hang in there and have stuck with the tracker at base rate + 2%. Was told the rate would go up soon and 7 years later is has never been above 0.5%. Mortgage is now just about clear which is a boost given the job situation just now. It amazing how quickly it comes down in the final few years and years of looking at the statements seeing that after 12 months of payments you are hardly due anything less.

[davieb]

Fixed rate mortgages are a waste of time in these current times, especially over the never 5 years or so. I've got Santander 123 Current Account Mortgage, had it for 8 years, base rate + 0.50%

[spamspamspam]

Savings are almost pointless right now, if you have any remortgage with something like the Santander one above or Clydesdale have the same idea and wipe out part of your mortgage with your savings.

 

What you save each month can then be pumped into bump up your pension.

 

I sold up when I got my first pay off. Moved out the road, bought a bigger house with the money from the sale and the pay off and am mortgage free. Means if I lose my job I dont have to worry about losing anything else. Stress of not working is enough without the stress of losing your shit along with it.

[zander]

I've been considering stopping my pension contributions and overpaying my mortgage with the money instead.

[Tord31]

if your earning higher rate tax extra pension contributions is still ultimate winner

[Dandyesque]

Most folk would go to an IFA for mortgage advice but i'm going to put my trust in the vast life experience of the hat posters, have a fixed term mortgage that's came to the end of its fixed period, what to do now??

 

Rates are probably going to fall again before they rise but as the're so low right now does anyone think it would be a good time to take an extended fix rate term? I'm looking at 7 to maybe 10 years, 7 years especially looking like a not bad rate, of course the gamble is you pay more than a smaller fixed term but maybe worth the long term gamble?

 

Or let it roll on a tracker?

 

With my provider the fixed terms are mostly £999 as a fee, am I right in thinking this would be added to the mortgage?

 

Thanks in advance.

I'm in the same boat just now

 

I probably won't pay a grand for a deal- although they will add it on it costs more in the long run and there's good free deals available.

 

I'm with the Nationwide and will stay- used them before and always found them good- they're also still a mutual rather than a bank which I prefer.

 

I plan to go for a 7 year fixed- Brexit could mean anything happens- except rates falling significantly as there's nowhere to go except up really. I can't see negative interest rates being allowed.

 

I can see a future where interest rates are raised to boost the pound though- just like in the mid 90s. I could well be wrong but not worth the risk IMO. It'll an paying a wee bit more now but getting peace of mind in the long run.

 

Most reliable advice I can give though is don't opt for lower payments- put them up if anything- a shorter term means you pay back less in the long run and also get mortgage free earlier.

 

I try to take a year or two off every time I remortgage

[Nelly]

I found Nationwide ok. What made them competitive was what they switch you to once the fixed rate is up (helps if you cant be bother renegotiating) Years ago I switched to a fixed rate with them and when the deal run out in 2009 they automatically transferred me to a deal better than anything that was on the market at the time (tracker at base rate + 2%). I was advised to take a new fixed rate deal, at the time the best going was 4.89% but I decided to hang in there and have stuck with the tracker at base rate + 2%. Was told the rate would go up soon and 7 years later is has never been above 0.5%. Mortgage is now just about clear which is a boost given the job situation just now. It amazing how quickly it comes down in the final few years and years of looking at the statements seeing that after 12 months of payments you are hardly due anything less.

 

Same as me, Discounted rate for 2 years, Fixed rate for 5, then went onto their Base Mortgage Rate (BoE + 2%) until cleared - 5 years early. Certainly gives you a comfort factor not having a mortgage.

 

The 1.89% fixed for 7 years that someone mentioned above sounds like an cracking deal, especially with the UK exit from the EU coming up.

[Stoney]

I can do home visits or come to your work at lunchtime, I can access the whole of the Market, we get exclusive rates and some lenders who only use brokers and my fee for hatters for a remortgage is £100.

 

If i canna get you a mortgage you don't pay me a penny

[Stoney]

As a free bit of advice i would strongly advise against anything more than a two year fixed rate.

[Stoney]

Nationwide are by far the best.

 

They are not

[daytripping]

PM sent Stoney.

[Stoney]

Can you beat the rates quoted in all the major comparison websites.

Depends on the deals at the time,

 

Some of these deals dont mention you have to pay for your own solicitor or pay for the valuation to be carried out I generally find a product that covers these free of charge. Some of the lenders dont lend in Scotland