2 year discounted SVR with an initial rate of 0.89% variable (YBS Standard Variable Rate -3.85%) until 31/08/2019.
Product fee: £1,495 Payable on application
Mortgage fee: £90 Payable on mortgage redemption.
Maximum Loan to Value (LTV) 65%
Top comments
Master.G
21 Apr 178#13
Why, what have you done?
fireman1
21 Apr 176#4
Great for the Londoners in their million pound 1 bed flats though.
japes
21 Apr 174#1
Fixed for 2yrs, Max 65 LTV and £1495 upfront payment ..... not that great TBH.
Chiptivo
21 Apr 174#9
Big news being made of this today.. But that fee!!! Offsets against all the advantages.
All comments (37)
japes
21 Apr 174#1
Fixed for 2yrs, Max 65 LTV and £1495 upfront payment ..... not that great TBH.
FatalSaviour to japes
21 Apr 17#6
This is *not* a 2 year fix - just to be clear!
jordon1
21 Apr 171#2
MAX LTV 65%
Cozworth806
21 Apr 17#3
On my mortgage of £120k the product fee bumps this up by 0.63% so about 1.50% overall.
Not as catchy then is it.
May be better for larger loans
fireman1
21 Apr 176#4
Great for the Londoners in their million pound 1 bed flats though.
gangey to fireman1
21 Apr 17#5
Comment.
With wheelie bins under the front lounge window and a front door that always seem to open outwards
The_Hoff to fireman1
21 Apr 17#18
Not a flat, but the rest of the profile matches... I even have a small house for my bins to live in.
Even with a sizeable mortgage I struggle to see the sense of this, the fee is very prohibitive for the very short duration. Typically I still tend to go via an IFA and broker.
davewave to fireman1
21 Apr 171#19
Yeah because nobody else needs to save money on their mortgage?
As a whole, those in North England and Wales have the highest average outstanding LTV mortgages, at 60 per cent and 55 per cent respectively. The average in Britain is 48 per cent.
Much of central London has low LTV rates. This is because house prices have soared past pre-recession levels.
Who will probably have to apply through means other than branches if the imminent closure of my local ex-Chelsea BS branch is anything to go by.
ScoTTyBEEE
21 Apr 172#7
It's a rubbish deal, especially if you put that fee onto the mortgage. Then 2 years later the discount ends and takes your -3.85% with it. This whole product is a teaser to sting you for 5% in 2 years, don't fall for it.
M_z to ScoTTyBEEE
21 Apr 171#10
Yes and no - couldn't all 2 year deals be described in that way? They still suit some people, and presumably these people are fully aware that they will need to change mortgage again at the end of the term?
I think the issue with it is more that the £1,495 Payable on application needs to be properly taken into account over the two year term - and unless your mortgage is above a certain amount, this wont be the cheapest product for you.
simonhzero
21 Apr 171#8
It may be fine for some people with large mortgages but the £1.5k fee is a bit of killer if you have a small mortgage. Always work out the total cost over the term of the offer (or after) to figure out if it's good for you.
Chiptivo
21 Apr 174#9
Big news being made of this today.. But that fee!!! Offsets against all the advantages.
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Opening post
2 year discounted SVR with an initial rate of 0.89% variable (YBS Standard Variable Rate -3.85%) until 31/08/2019.
Product fee: £1,495 Payable on application
Mortgage fee: £90 Payable on mortgage redemption.
Maximum Loan to Value (LTV) 65%
Top comments
All comments (37)
Not as catchy then is it.
May be better for larger loans
With wheelie bins under the front lounge window and a front door that always seem to open outwards
Even with a sizeable mortgage I struggle to see the sense of this, the fee is very prohibitive for the very short duration. Typically I still tend to go via an IFA and broker.
As a whole, those in North England and Wales have the highest average outstanding LTV mortgages, at 60 per cent and 55 per cent respectively. The average in Britain is 48 per cent.
Much of central London has low LTV rates. This is because house prices have soared past pre-recession levels.
higher loan vs value is darker green!!
Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-3438660/The-regions-biggest-mortgage-debt-revealed-Use-interactive-maps-town-city-compares.html#ixzz4esAe3K1U
I think the issue with it is more that the £1,495 Payable on application needs to be properly taken into account over the two year term - and unless your mortgage is above a certain amount, this wont be the cheapest product for you.