I am looking for 170k mortgage and currently have 25% deposite. What is the best deal I can get and from which bank? Cheers
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804MikeGG1 postedTry here:
http://www.lovemoney.com/mortgages/search-all-mortgages.aspx
Mike
Posted on 17 February 2010 |
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134liesarenocomfort posted
I'm not sure that there is such a thing as a "best deal" when it comes to mortgages unless you narrow the field a bit (what may be the lowest rate now may not be in a year's time) and to some extent you're always taking a gamble with what interest rates will do (you'll only know it wasn't the best deal when it's too late!)
Have you thought about whether you'd like a tracker mortgage, or a fixed rate (and if fixed for how long)?
You have a substantial deposit so there will be quite a bit of choice.
Part of the decision is psychological - some people prefer fixed rates so they know exactly what they're in for (or perhaps to put an upper ceiling on the monthly payments)
Posted on 17 February 2010 | Love 2 loves
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0TSG posted
I thought about HSBC fixed rate for 3 to 5years or tracker. I am not sure but as a first time buyer I think fixed rate will be appropriate so that I can plan things knowing what I have to pay out every month on the house.
But I was thinking I might be loosing out if I did not take the tracker.
Posted on 18 February 2010 | Love 0 loves
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134liesarenocomfort posted
TSG
I agree with you - I prefer a fixed rate (I'm actually coming towards the end of 10 yr fix.). If I was remortgaging now I'd probalby go for a 5 yr fix (2 ys is too short for me - can't be bothered with worrying about rates every 2 ys - plus there are fees each time you remortgage (usually)).
This article makes some good points about fix vs tracker
http://www.lovemoney.com/news/mortgages/fix-your-mortgage-rate-now-4475.aspx
Posted on 18 February 2010 | Love 1 love
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62TheWelshman posted
Hi TSG
Thanks for the question!
There is some good advice from the other members of lovemoney.com
Looks like you have some decisions to make about your attitude to risk?
As MikeGG1 suggested you can do the work yourself by using the new mortgage sourcing tool we have launched or if you prefer to get some advice then you can contact me direct tim@lovemoney.com or ring us on 0800 804 8045.
Regards
TheWelshman (a member of the lovemoney.com mortgage team)
Posted on 19 February 2010 | Love 0 loves
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