Don't you come round 'ere with your logic. I want to blow all my income on latest generation games consoles, mobile phone contracts, takeaways, gym memberships and brand new cars. I don't want to put money towards savings and most importantly of all I want to blame others for my poor financial decisions THANK YOU VERY MUCH.

You got no fees!

30 - 50k an achievable savings goal for a young person? are you serious?

I'm in the wrong job.

All very well trying to impress everybody with your smart @ss logic... House prices went up at least 250% from 1999 to 2004... Wages however, didn't budge and living costs/expenses & utility bills have gone through the roof. Then you include zero hour contracts and mass immigration keeping the working class on their knees whilst flooding housing stock, it really isn't that simple...

If you're honestly saying it's as easy now as it was for people pre 1999, you're totally deluded!

nationwide have 1.74% 2 year tracker at 75% LTV....no fees and they are not a fussy lender like HSBC or First Direct

the rate is 1.64% for 60% LTV

first direct are doing a 2 year fix at 1.74% for 75% LTV...no product fees as far as I can see
but they are a very fussy lender (same group as HSBC) so you need good credit rating

http://mortgages.firstdirect.com/mortgage-rates/product/2-year-fixed-repayment--fee-saver~11

Any other good deals out there . I had taken this deal and it's coming to an end soon.

Is there a way that I can find out if any of my local branches have a mortgage advisor in store?

the link below should help identify your nearest branch with mortgage advisor
http://www.postoffice.co.uk/mortgages/branch-appointment?tmad=c&tmcampid=139&PPC_MORT?tmad=c&tmcampid=140&PPC_MORT

Hi Sarah,

Is there a way that I can find out if any of my local branches have a mortgage advisor in store?

Thanks in advance.

eh! only a tiny percentage of average folk earn %0k a or over a year...
And how does that compare to what friends and neighbours earn?
•Lollipop ladies £3,187 average p/a (+4.9% yearly change)
•Theme park attendants £6,011 (-10.9%)
•Bar staff £7,317 (-1.0%)
•Playworkers £7,400 (-3.8%)
•Waiters & waitresses ( £7,654 +8.3%)
•Cleaners £8,067 (+1.9%)
•Florists £8,960 (-6.0%)
•Hairdressers £10,174 (+0.9%)
•Fitness instructors £10,378 (-8.4%)
•Shopworkers £11,174 (+0.3%)
•Cooks £11,346 (-7.4%)
•Nursery nurses £11,163 (-0.4%)
•Beauticians £12,418 (+5.3%)
•Window cleaners £12,561 (-11.2%)
•Receptionists £12,595 (+1.8%)
•Care workers £12,804 (+0.9%)
•Childminders £12,949 (+2.3%)
•Telephonists £14,032 (+1.5%)
•Tailors & Dressmakers £14,482 (-23.5%)
•Caretakers £16,114 (+3.9%)
•Secretaries £16,384 (+1.1%)
•Cabbies £16,416 (+4.6%)
•Customer service £16,525 (+9.5%)
•Undertakers £16,526 (0%)
•Packers £16,820 (-0.4%)
•Tele sales £17,362 (-1.1%)
•Chefs £17,391 (+0.3%)
•Gardeners £17,595 (-1.3%)
•Street cleaners £17,616 (-3.8%)
•Butchers £17,681 (+1.2%)
•Hospital porters £17,748 (+5.8%)
•Farm workers £17,925 (+4.9)
•Traffic wardens £18,065 (-4.2%)
•Travel agents £18,344 (+10.7%)
•Van drivers £18,744 (+2.9%)
•Tyre & exhaust fitters £18,888 (-4.2%)
•Bank clerks £19,908 (+9.3%)
•Youth & Community workers £20,240 (+2.6%)
•Civil servants £20,330 +1.2%
•Council administrators £20,351 (+2.9%)
•Vicars £20,568 (-3.6%)
•Security guards £20,841 (+2.2%)
•Plasterers £21,155 (+0.1%)
•Lab technicians £21,168 (+0.2%)
•Fork lift drivers £21,444 (+0.3%)
•Musicians £21,492 (+6.8%)
•Roofers £21,921 (-1.5%)
•Bricklayers £22,476 (-7.0%)
•Painters £22,700 (+1.9%)
•Ambulance staff £22,854 (+5.6%)
•Housing officers £23,001 (-0.6%)
•Bus & coach drivers £23,095 (+3.0%)
•Posties & messengers £23,178 (+17.5%)
•Librarians £23,940 (-0.3%)
•Carpenters £24,029 (+1.4%)
•Photographers £24,242 (-4.8%)
•Farmers £24,520 (+5.5%)
•Estate agents £24,783 (-8.2%)
•Publicans £25,222 (+10.7%)
•Mechanics £25,238 (-0.7%)
•Lorry drivers £25,602 (+1.4%)
•Nurses £26,158 (+0.65)
•Prison officers £26,616 (+2.6%)
•Welders £26,735 (-1.6%)
•Printers £26,833 (+2.7%)
•Speech therapists £27,470 (-0.5%)
•Plumbers £27,832 (-1.2%)
•Social workers £28,182 (+1.6%)
•Firefighters £28,183 (+0.3%)
•Office managers £28,790 (-1.8%)
•Human resources personnel £28,999 (+1.0%)
•Car makers £29,845 (+1.9%)
•Web designers £29,870 (+5.5%)
•Midwives £30,020 (+2.0%)
•Scaffolders £30,591 (+2.8%)
•Coal miners £30,688 (-8.8%)
•PRs £31,818 (+0.4%)
•Telecoms engineers £32,253 (+5.3%)
•Vets £32,374 (-4.0%)
•Hotel managers £32,470 (-2.0%)
•Teachers £32,547 (+1.4%)
•Journalists £35,117 (-0.4%)
•Train builders £37,613 (+3.3%)
•Civil engineers £38,236 (-2.7%)
•Quantity surveyors £38,855 (+1.5%)
•Police officers £39,346 (-1.2%)
•Construction managers £42,066 (+8.3%)
•Architects £44,024 (+3.3%)
•Electrical engineers £44,430 (+3.7%)
•Solicitors £44,787 (-2.3%)
•Train drivers £45,489 (+3.7%)
•Barristers & Judges £45,571 (-2.3%)
•Health managers £46,629 (-4.7%)
•Financial advisers £46,797 (-0.3%)
•Dentists £53,567 (+14.3%)
•Senior police £58,727 (-3.5%)
•MPs Now £66,396 (+1%)
•Doctors £70,646 (+1.3%)
•MPs Future? £74,000 (+11%)
•Airline pilots £78,482 (-0.1%)
•Chief executives £117,700 (-4.4%)

Source: Office for National Statistics. These figures are averages of gross pay before income tax and National Insurance. Overtime is included and rates will vary around the country

I totally agree bud spot on!!

what are these deals?

better deals out this week and again January. that's what I've been reading online, patience.

Earn 50k pa, save half. 2-3 years and you're good to go.

Did you get your mortgage in recent years or pre-crash? Its more difficult now to get a mortgage on a lower income.[/quote]


2009-2010 so not to long ago. But regardless of when I took out the mortgage my point is yes it may be hard to get a mortgage but why complain and make out like its someone else to blame. If hes spending £650 a month on rent that's by choice and everyone makes their own choices. Don't like your job?Get another one. Don't like where you live? Move then.

Why bitch and moan about the economy its the same economy for everyone who is in it! There's a reason why people who moan don't get anywhere because they are too busy moaning, whilst the quiet honest john/Joe type is busy building and contributing. They don't moan because whatever type of predicament they are in they find a solution. They might not like it for example as I said myself im in the same 70:30% split he is. Difference is I don't moan I ensure the money I do have goes a long way instead. Rather then blame someone who is better off through hard work and discipline.

If your paying £700 a month in rent your seriously getting fcuked in the **** I have a slightly above minimum wage job and a £750 mortgage. Difference is instead of moaning about how society owes me a debt, I just concentrate on paying mine. Now I live in a nice 5 bedroom house no wife but I have my parents who have moved in with me recently retired. So all those that say u can't do it on £300 disposable income you need to focus and stop moaning take control of your life and make better life decisions! Only a chimp having the foresight to climb the tree will get the sweetest fruit and only a chump will sit n moan on here about it if your really that strapped for cash why r u on hot UK deals instead of a job site? Pssshhhh[/quote]
Did you get your mortgage in recent years or pre-crash? Its more difficult now to get a mortgage on a lower income.

Comment



If your paying £700 a month in rent your seriously getting fcuked in the **** I have a slightly above minimum wage job and a £750 mortgage. Difference is instead of moaning about how society owes me a debt, I just concentrate on paying mine. Now I live in a nice 5 bedroom house no wife but I have my parents who have moved in with me recently retired. So all those that say u can't do it on £300 disposable income you need to focus and stop moaning take control of your life and make better life decisions! Only a chimp having the foresight to climb the tree will get the sweetest fruit and only a chump will sit n moan on here about it if your really that strapped for cash why r u on hot UK deals instead of a job site? Pssshhhh

Comment


I'm on a tracker to 1.85% above base for life of mortgage which is about 25 years now. I may as well stick to my guns to then. No point in switching for a short term gain, only to pay through the nose for it later :smiley:

Comment I am on a life time tracker which tracks at 1.85% above bass for 25 more years no exit fee so I'm free to jump ship but not to this (2 years is not enough)

I know the feeling. I used to have my mortgage with Nationwide. I started my own business as a contractor and then all of a sudden despite my flawless history with them Nationwide didn't want to know anymore.

Ended up having to go with Halifax. To their credit they are very self employed/contractor friendly in the way they underwrite and easy to deal with the only downside was the rate wasn't all that great.

Depending on your deal. Presumably a tracker, Why would you ever change?
You will always win long term on this mortgage 1.1% above base , if you were to get a fix you'd most likely pay a fee upfront and come out of it on a far higher standard variable rate, to higher fixed rates anyway! may as well stick to your tracker for life

check out quidco and TCB for fee free brokers? sometimes brokers deals are better or parity and you can bag free cash back. depending on loan amount Coventry have a good deal at £300 setup and free legals survey. I seen a broker on quidco who even pays cashback on enquiry

I recently moved house and used the Post Office for my mortgage. Chose them because of their great rates and yes it is the Bank of Ireland that actually provides it. However.... THEY WERE AN UTTER NIGHTMARE TO DEAL WITH!!! They are so backed up with applications that it takes forever for applications to go through. Mine was approved 2 days before completion and that was with me chasing up constantly for 2 months.
The deals are good but be warned, you will pay for it with stress and worry.

I'm 100% certain you never received a good education therefore please read what i said slowly. i said it will certainly RISE AND 90% certain that it will be 5% within 5 year. Try to comprehend the TWO (2) seperate statements. Take your time.

1. I was not talking to you
2. It is better to be simple

If you want to talk to me then compose a clear and concise response as I have no time for idiots.

You joking?!

I live in a really nice flat within walking distance of Bristol city centre for £650 a month...

Could easily find flats or house shares for half of that price...

I was concerned there wasn't going to be a racist post here! Luckily I was wrong...

As everyone here is off topic, I blame buy to let mortgages, if we were only allowed to buy one property housing would be cheaper, no incentives to maximise profit, imagine if rented properties were owned by the government, as in for the country not the mp's as the current state, incoming from housing could be used for the good of the country instead of putting money in already rich pockets.

Either way you should take out a bazillion year fixed rate mortgage and count your lucky stars we don't live in a country that require the next 2 generations of your family to pay for your debts, check out 100 year mortgages! Scary stuff

There is no right answer to house buying, its pot luck, just same people claim to be experts to make money out of people buying houses, maybe if your looking to buy a house become a consult, rip a few people off on narrow-minded ideas and profit!

And for all the narrow minded folk that think its easy to get a job and promotion, I hope you loose everything and discover its not that easy, I agree you can always save, but totally disagree you can save any meaningly amount when your living costs are so high and you get to fork out for repairs all the time, if getting a good job was easy we would be living in out own filth as everyone would be high paid awesomeness and no one would clean anything as its beneath them!

If hot UK deals is good for one thing, ita ranting to people you'll probably never meet for no good reason other than getting irrationally annoying looking at a deal you have no intention of using! Good times :smiley:

What a simple minded comment. Blame Gen Y? Who should he blame, our Jewish Puppet Masters? The Frankfurt School who has all this planned? That's not allowed...

He could always throw in the towel, become part of the socialist state? If a person over 65 had to survive in those circumstances on such a paltry sum or a Somali immigrant, they'd have their rent paid and various benefits/credits, no council tax to pay & huge discounts left right and centre. It's not a fair system.

However, the backbone of the country, the working classes, are expected to carry everyone else and be completely self sufficient with zero sympathy or understanding.

When I see the feckless immigrants on my street having fast food delivered every other day to the free housing given to them, despite not working, I feel I'm entitled to say something's gone seriously wrong. These cnuts don't need to save for a mortgage, they can live rent free forever at the tax payers expense whilst being completely immune to criticism.

In the meantime, we can all sign up for a lifetime of debt, to live amongst benefit claimants in our overpriced portacabins.

no im 26

i rent also i have a 16 month old boy ... but i started saving at 15 to be able to afford to rent and provide for my son i knew in advance i would need a home and i wanted children so i saved for that to happen.

30% of your wage is rent?

So what do you do on min wage, live in a tent?

Most rents here (midlands) are £700 PCM upwards.

Same here, for the last 3 years I've been overpaying £500 per month. I've tried to take out equity and requested 12 years term which would be £300 per month, but their system was saying I cannot afford it, so had to take for 18 years....

Back then the rates commonly fluctuated between 7% and 14+% in the 70s to early 90s. 10% was the norm totally different times and cannot be compared at all.

Oih oih! A chocolate teapot tastes delicious ok?

Good deal but I'll stick with my current 1.10% above the base rate and will only change when the boe start to put the base rate up.

This is a good deal for a 2 year fix with no fee. I have been on the lookout for cheapest rates for the last 3 months as my previous 2 year fix was coming to an end and i was going up on the banks base rate of 4.99%. I have just re-mortgaged with YBS on a 5 year fix at 3.15% with no fee as i had come to the decision that the rates will rise over the next 2 years so to re-mortgage in 2 years time there would be nothing near the rate i am on now.

Does this mean I can pay 1.99% interest and then repay the whole mortgage in full after 2 years?

haha ok yeah ill keep to a tigher budget even though I literally have about £100 a month of disposable income which usually gets eaten by car repairs/mot ect.

and please dont give me the get a better job invest in your self rhetoric. I went to college and uni did my time and got a degree which means nothing these days I now attend college on a night course to try and give my self a better future. what else am I supposes to do... ow yeah ill just get a better job that easy eh.

Mortgage Adviser available in Ipswich Branch

If mortgagee is only in one spouses name then you'd be eligible. Wife and her mum on mortgage as she bought before we got together, and is now a SAHM so no chance of remortgaging, and we don't want to link our finances as we won't benefit. However in theory it means I can get one of the help to buy deals, although if its based on salary rather than income i'll be buying a b&q shed.

Thought these were for 1st time buyers only to help get them on the property ladder not so the rich can line their pockets

Not sure he is actually saying that at all.
Also not true. There was wage inflation over that period.
It may well be harder now than 1999. The world has got smaller since then. Products and services are more global now than ever before. More jobs and services shipped overseas.
Until property and living standards are stabilised across the globe expect our living conditions to 'worsen' while people elsewhere are prepared to work longer, in worse conditions, for less money doing a job as well as someone here.

Firstly, you should only pay around 30% of your wage on rent...Is there no way you could live somewhere cheaper?!

Second of all, I think house buying is 90% more directed to couples...if you live together, rent costs are basically halved for both of you and it makes saving a lot easier...saying that if you aren't in a relationship it is, as you say, considerably harder and understand where you're coming from...

watch it.. I have a copyright on that

But this doesn't happen, I know people who have saved for ages and can't get a decent deposit together to get a mortgage. The fact that housing is massively overpriced isn't the problem though is it? It must be because they have a mobile phone.

yeah saving

I work 40 hours a week @7.58/h and my rent alone is % 50 of my take home monthly wage, take into account council tax, gas, electric and all my other bills and im left with less than £300 a month of actual money in my bank account which needs to buy food, clothes and fuel for my car...... it may well be easier for some younger people to save if they can live in their parents home and be heavily subsidized but any one who can not live with family has no chance I basically work sleep eat and work again....

You're 69 though.

Don't worry interest rates will stay low forever, the moment they go up, western governments will go bust....

Not sure if that Jez bloke is serious or not? :confused:
Apart from the mad London Town where prices appear to be greatly distorted by the Russian mafia, rich Arabs and a load of bankers, have any areas gone up significantly since the peak of 2006/07? Not seeing it in this 'quite affluent' suburb
Likes of BOI greed and excessive govment debt seems to have screwed it up for the young forever...

Comment

It is achievable ive been saving since I was 15 when I got my first job and im set for that goal it's possible as long as you start early I still have everything I need and more and still have a good savings

Hi im looking to buy my first home in the new year and currently looking into mortgages can someone explain to me how this works please and the interest rate part ? Thank you

30 - 50k an achievable savings goal for a young person? are you serious?

I'm in the wrong job.

good deal...

All very well trying to impress everybody with your smart @ss logic... House prices went up at least 250% from 1999 to 2004... Wages however, didn't budge and living costs/expenses & utility bills have gone through the roof. Then you include zero hour contracts and mass immigration keeping the working class on their knees whilst flooding housing stock, it really isn't that simple...

If you're honestly saying it's as easy now as it was for people pre 1999, you're totally deluded!

Voted hot, but I have a offer from Nationwide 2.14% fixed 2 years for re-mortgage with no fee as well, over 2 years will be around £180 more than Post Office deal, also someone mention lending fee £195 on completion, so for me not worth to move.
Is it better to choose 2 yr Tracker 1.74% (no fees) instead fixed?

I had a fixed mortgage with them, never missed a payment but they refused to port it over. I wanted to move and had a buyer for my house so I just paid the penalty and went with The Yorkshire Building Society. If they haven't changed the minimum income requirements then I guess I am not eligible. Saying that I would think long and hard about going back to them anyway even if i were.

looking for remortgaging at 85% LTV?

I wanted to remortgage, I have 40% equity so have 60 LTV and most companies would'nt even deal with me!

nice

Sounds great. Voted hot. Stuck in a 10 year fixed at 5% and ends in June 2016 so I'm pretty knackered...but looks like a great deal for people with the right circumstances. Thanks for posting.

not a bad rate but not sure where that will leave you when you exit this...could be a whole world of pain...or could be no different to now I guess...truth is, a longer term fixed rate mortgage is really god if you want/need to know exactly what you will be spending every month for the term....otherwise some of the short term deals are much better....especially if you have the flexibility to over pay....weve cut our mortgage from 20 years to 7 by overpaying as much as we could

This is an incredible deal with no fees.

How will it save you if you 've taken on more debt than you can afford? Who said interest 'should stay low'? Don't you think people thought that back in the 90s when they paid extra interest for a fixed price period? It was when the end of the fixed price periods that people were caught with interest rates up as far as 15% and property values tumbling as people scrambled to sell. 400,000 caught in negative equity!

HSBC are very tight and picky with their lending. I applied 2 years ago, had a very stable income but they didn't want to lend us because my partner is NON-EU. Halifax were much better.

nationwide offer good deals to existing customers - and usually no fees either - can you logon to your mortgage account and see if it gives you other options for switching or call nationwide and ask

as far as I know you can always swap, but the question is "will it be worth it" and only Nationwide can tell you the important piece of information (i.e. how much to break out), and they have to tell you if you ask :smiley:

A GP? Did you check on the BMA website? My daughter is self employed, single, and a mere translator interpreter, but had no difficulty getting a mortgage from HSBC which is where she's banked for a few years. They did not pay too much attention to her income, more to her expenditure and rate of saving over just the last 4 years. Before that she was a student.

What happens after 2 years ??? sorry if sounds dumb

we were warned of rising rates when we fixed for 5 year nearly 7 years ago. instead they fell like a stone and we were paying much more per month for that period instead if suffering only over a 2 yr fix. This economy is fragile and the BoE know that any interest rate rises will squeeze people out of their homes.

we ported our last mortgage across onto our new place so we have 2 parts with the nationwide. the ported one is the largest and on a 2% br tracker. the other part is the fixed which is due up.

does anyone know whether I can arrange another deal elsewhere on the fixed part or does it remain with Nationwide?

Don't feel you cant break out of your current fixed rate Mortgage,

We saved money within the first year, by breaking out of ours and paying the "fine". but it all depends on the fine and the difference in rates. Just ask your current provider what the fine would be and do the maths :smiley:

Strapsell, as a GP there will be different rules applied to you than other professions and most lenders will look to help due to this, you've just got to talk to the right advisor who is a bit more experienced at any lender so don't let it put you off of thinking other lenders won't help.


That all being said, if your now in a 2yr + deal then normally 2-3 yrs audited accounts are good enough for most high street lenders

On the plus side, the stress of getting all this crap sorted probably sends a lot of business your way. :confused:

the markets have been stable for ages . but it doesnt take much for them to tits up. I remember people in the late 80's getting mortgages at 7% and then they shot up to around 14% and i know of people who had to sell tgeir homes and were left with tens of thousands of debt to the banks. interest rates should stay low but by getting a 5 year deal and paying say £60 extra per month for it , it saves you when the sh*t hits the fan if rates shoot up.

People fix through fear of rises. You can see it throughout this thread. 'What if when it gets to 5?' 'its sure to go up this year' 'It will be 10 soon'
Its been low for years because the economy is in state.
Its been announced that the next 2 years will see the biggest cuts in history to public spending. That's after 4 years of already massive cuts.
Its also been said that it could potentially take up to 40 years to get out of this mess.
That's not an economy on the up!
But still 'its got to go up this year for certain as things are great now' and I better fix for ten years because I cant afford when its 15% in two years from now.

lol....so very true

So you say your only 90% certain that It will happen, but then you say it will certainly happen.
And now you have started saying it we better pay attention! Whats your second name, Carney?
I'll take financial advice from you any day!

around credit crunch who would have thought base rate would be 0.5% and remained at that level for years to come......i clearly remember financial advisers saying to go for a fixed rate deal back then as rates expected to bounce back......i guess no one can really forecast what will happen - you need to look at your personal circumstances and judge if you could cope with rate raises...
the bank of england forward guidance suggests they will only go up in small increases - but who really knows?

No, that is a different scheme altogether and not applicable to just any mortgage. What you'll notice is that even on that scheme mortgage lenders will still charge you the same rate as if it was 95% LTV making them quite expensive.

Look at Russia, they invaded Ukraine by accident and their interest rates went up to 17%. Who's to say that we won't accidentally invade somewhere. I think a 10 year fixed is a safer bet.

Besides, George and his friends went to Eaton and he says that everything is going to be super awesome if I vote for him again. His education cost more than my house, so who am I to disagree?

use this tool - its good for comparing different mortgages - outcome will vary depending on length of mortgage
http://www.moneysavingexpert.com/mortgages/compare-fixed-rate-mortgages

Could your age doesn't help like me . They are making harder for over 40s to get a mortgage, which is dumb as most people can't afford a house until then anyway

Certainly is personal choice and how much risk you are willing to take and can take, I am still toying up what to do next myself and I can see benefits to trackers and fixed. With 20 years left I am thinking of either
1: fixing for 5 years and reducing the term to 15 years which would mean I am paying top of my budget but I should always be able to afford it but is inflexible
2: getting a lifetime tracker for 20 years and making overpayments that I can then adjust if rates shoot up or I want some more monthly cash and get a lower rate

On 80k mortgage the post office 1.99% 2 yr fix is still cheaper than nation wide 2.14 fix?

Maybe people have being saying it for years although i haven't until now, but i'm not sure why it is so hard to believe interest rates moving back to a reasonable rate of 5% within the next 5 years. I'd say it was 90% certain to happen. I'm not saying its gonna be anything like Russia or even Greece but it will certainly rise.

Since 2008 that was probably the right decision - i've done the same, but i'd argue the market is changing now and I don't see the low rates lasting through 2015 and beyond.
We remortgage in 10 months time, and im thinking 5yrs this time for the simple reason that 8-9% interest would hurt a LOT.
It's a gamble and if you can afford to pay the repayments at 10% then yes take the gamble it stays low & you might win out, but anybody who would lose their house at 8%+ should be fixing for the next 5-10yrs.

Post Office Bank has its head office in a Eurozone country, if anyone finds that relevant.

Yeah, good with luck with that. Some people prefare to know what they are paying. I'd rather be stuck on 4.7% for 10 years than risk 10% in 3 years. All personal choice.

75% LTV for first time buyers? So this is for the super rich only.

Santander do a lifetime tracker at 1.99% above base rate if you can get 25% down - cost £995
PO also do 2 yr fixed 1.37% max LTV 60% & 1.75% max LTV 75%

True enough.

Beware of dealing with the unscrupulous Bank of Ireland as they may well decide to increase the interest rate that you think is 'fixed'

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/10381130/Watchdog-to-probe-tracker-mortgage-rate-rises.html

Does anyone know what the minimum income requirements? I had a mortgage with the Post Office and they would not port my existing mortgage when I wanted to move because my income was under £20,000.

Bank of Ireland up to their old tricks by the looks of this. This is sort of lending destroyed the uk / world economy in the first place.

I'm a GP, couldn't get a mortgage from anyone as I'm "self employed". Only got mortgage with Scottish widows through a broker and large fee, with rates that are not competitive. Does have an offset facility which may be handy.
I would consider me and wife good to lend to, amazing how the mortgage market works.

Wouln't touch a 2 year fixed. The rate in two years is likely to have doubled if not more. 5 and 10 year ones are the way to go even though the rate is higher initially.

I thought i got a good deal with Halifax 3 months ago (5 years fixed - 3.39%) I guess the only saving grace is i don't have to worry about interest rates rising until 2019. God knows what the situation will be then but the difference between 1.99% and 3.39% is massive! I just worked it out there and i would've saved around £60 a month if i had taken this :confused:

Congrats, you know if it's a Boy or Girl yet?



:smile:

So many ridiculous comments in this thread from people who have absolutely no idea what they are talking about. Please be careful using any of these comments to make an informed decision. A mortgage should be considered careful due to the fees and penalties for settling early etc.

How long have people been saying that now? Interest rates have carried on going down. We are far from out of trouble with regards the markets so i personally cant see interest rates going up to these levels for a long time.

I could see interest rates going up after the next general election though and i would hazard a guess to a increase by 0.5 base points.

If after 2 years you find a better deal and you want to swtich it again, is there any exit fee and/or early repayment fee ??
Where is the heck ???

yeah, I bought a new house 6 months ago and hope my 5 year fixed is the way to go and expect to only see the benefit in the second half of that. My worry would be at the end of a 2 year fixed, a big hike would be waiting for you which is why they are charging 1% more for 5 year ones

Don't you come round 'ere with your logic. I want to blow all my income on latest generation games consoles, mobile phone contracts, takeaways, gym memberships and brand new cars. I don't want to put money towards savings and most importantly of all I want to blame others for my poor financial decisions THANK YOU VERY MUCH.

was looking at Nationwide for a longer 5 year deal - I think its 3.04% for 5 years or they have a 4 year deal with 2.59% which also looks good here http://www.nationwide.co.uk/products/mortgages/73783/details-rates-and-charges not sure what the difference is though

Looks great thanks OP

Great deal!

probably not a bad idea, when interests rate go to 5% by then.

I feel for you all...we got our house this time last year on a fixed 5 year @ 2.75 no fees (dont care if its better now!)...im just glad never to touch this myre for the next five years at least....good luck to all I hope you get a good rate and have a decent xmas..

You can get them from the nationwide(and other building societies) on their not much more expensive fixed rates, my parents actually used it on their mortgage on their new place which was a new build so it qualified.

The same as you would pay on £195 in your pocket now. You are usually better paying things upfront but it's nice to have the option and you can't force people to make smart choices.

Thanks op

BOI take an age to process mortgages so be careful. I had to make a formal complaint to get mine pushed through and it still took 3 months

They are indeed BOI backed mortgages

Leeds Building Society is offering 2.44% rate on a 80% LTV, and no product fee. for first time buyers.

http://www.leedsbuildingsociety.co.uk/mortgages/fixed-rate-mortgages/fees-assisted-2-year-fixed-rate-mortgage-80-ltv/

Couldn't see the deal on the link provided...

25% deposit for a first time buyer? Keep dreaming I guess :confused:

Anyone know of any good deals on longer fixed mortgages, with an LTV of around the 40% mark?

Obviously, I'd talk to an IFA, but want to get an idea of what's out there so I know what to beat.

Not on this mortgage you can't. Us plebs can't apply for a Help to Buy grant. They're part of specialised mortgage products offered by the banks. H2B mortgages tend to be only slightly cheaper than 5% deposit mortgages. Expect to pay double this price.

Can't say I agree with the other poster either; a 25% deposit on a modest home is far from the realm of the 'super rich'. In London and other expensive areas, sure, but for most of the UK it would be £30-£50k, less in cheaper parts like Stoke. Still a lot of money, but not an unachievable savings goal for many.

Rather a high rate after for my liking. I'll stick with my variable with Nationwide.

unless you already have a Post Office mortgage (like I do). in this case the best rate you'll get is 3.29 for 75ltv

In two years when this express the interest rates could be much higher. Could end up more expensive when you have top re-mortgage after this. Great deal but think longer term too

Anyone know any good 5 year fixed rates floating around, or good comparison websites to put in my particulars?

Cheers, ganticus.

They turned me down, I was already a customer of theirs. Had a 25% deposit, wanted less than 2x my salary, excellent credit. Halifax had no problem giving me a mortgage.

With deals like these, they can cherry pick the best customers and most profitable.

Looks interesting, thanks OP

Voted hot, Ok deal if your you have a current fix ending and SVR is far higher . Although will stick to my tracker, don't think I.d fancy coming out a fix in 2 years time, the market will likely be in an active time , then

A lending fee of £195 applies which is due on completion but payment can be deferred until your mortgage is fully repaid

Still looks like a cracking deal.

I'd be wary of the PO. They had a 1.7% ISA recently (next best was 1.3%) and it was supposed to be accessible in branch, by telephone, or post.

After a long wait in the central branch all they did was pop my application in the prepaid envelope. I still had to go back with ID at a later date. Only they didn't pop it in the envelope. They used some sort of scanning device and it just dissappeared into the ether. I had to go back but they were clueless and just phoned head office.

Long story short, bit of compo from them, but it's cheap for a reason- the inconvenience.

Could you get a Buy to Let at this rate?

Very good deal but I'm glad I picked up the Norwich & Peterborough's Bank of England base rate +0.55% deal before the crash!
First thing it did was go up 0.5% but who would have predicted it going down to 0.5%. :-)

Any competitive priced mortgages with a 10% deposit?

My mortgage will be 80k

I can get a 2 year fix at 2.14% with nationwide with zero fees.

I applied at a HSBC branch last year and appllication was rejected on grounds of affordability.
I applied with HSBC again but online with all the same information and my application was accepted (i did get a call from their underwriter asking a couple of questions re my income)

Can you get this when re-mortgaging?

You got no fees!

Check out Tesco bank, we have just re-mortgaged with them at 1.69% for 2yr £600 product fee and £195 charge

I work at the post office and the rate keeps dropping
Many branches like our have mortgage advisor in branch

Could take you until February to get re-mortgage sorted ?
Not sure how long process takes now for re-mortgaging but for new mortgages its such a long process now.

aprt from the scary reply, go contact them if you are so desperate and see if you can have the deal in Feb. Personally if I were you, I would seek an IFA

Nice, however due in feb!

Looks excellent. I believe Post Office loans/mortgages are handled by the Bank of Ireland

Here's some of their other rates including one thats a 1.78% for 2 year fixed
http://www.money.co.uk/mortgages/mortgage-lenders/Bank-of-Ireland-Mortgages.htm

Jumps way up though by around 1% to 3% when going for a 5 year fixed