Maximum LTV 60% (so minimum deposit/equity would be 40%).
No upfront fees (booking or arrangement), "fee saver" versions Unlimited lump sum repayment/fee-free extra repayments!
While there is an early redemption fee (3% of the original mortgage value initially, and then 2%), I guess you could just keep the mortgage "open" at £1 until the end of its term (and let FD terminate for free, as it would cost them more in admin fees)!
A bit of a contradiction between having unlimited repayment and early redemption fee at the same time...
HSBC also has some good deals, fee-free and slightly lower rates (see other deal). HOWEVER, no unlimited extra payments (only 10% per year), so that 0.1% cheaper HSBC rate could end up costing a lot more...
Basically, it looks like those FD fixed rate mortgages are without any drawbacks, and with great rate! Fixing a mortgage for 2.49% over 10 years is a great opportunity, as the base rates can't really go much lower.
Note: FD are notorious for being one of the most picky/selective lenders (including based on own experience), so even qualifying people may end up not getting those mortgages.
All comments (108)
Ruffuz
7 Aug 17#1
Erc 3% in first year
2% after, calculated from original amount.
coerce86
7 Aug 17#2
LTV?
NeilB to coerce86
7 Aug 17#3
Max LTV 60%
stefanjulia
7 Aug 17#4
What ia the LTV please
NeilB to stefanjulia
7 Aug 17#5
See 1 comment above :grin:
NeilB to stefanjulia
7 Aug 17#6
Or do you mean, what does LTV mean? If thats the case, Max Loan to Value ratio. And remember kids, Google is your friend :wink:
Ted.Wales to stefanjulia
7 Aug 17#34
LTV means 'loan to value' its 60% so you need a big deposit. Basically a 40k deposit on a 100k house.
jcluk
7 Aug 17#7
Unlimited overpayments are the clincher for this one. Fantastic way to guarantee a great return on your money by saving thousands in interest and get yourself debt free far quicker.
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Opening post
Maximum LTV 60% (so minimum deposit/equity would be 40%).
No upfront fees (booking or arrangement), "fee saver" versions
Unlimited lump sum repayment/fee-free extra repayments!
While there is an early redemption fee (3% of the original mortgage value initially, and then 2%), I guess you could just keep the mortgage "open" at £1 until the end of its term (and let FD terminate for free, as it would cost them more in admin fees)!
A bit of a contradiction between having unlimited repayment and early redemption fee at the same time...
HSBC also has some good deals, fee-free and slightly lower rates (see other deal). HOWEVER, no unlimited extra payments (only 10% per year), so that 0.1% cheaper HSBC rate could end up costing a lot more...
Basically, it looks like those FD fixed rate mortgages are without any drawbacks, and with great rate! Fixing a mortgage for 2.49% over 10 years is a great opportunity, as the base rates can't really go much lower.
Note: FD are notorious for being one of the most picky/selective lenders (including based on own experience), so even qualifying people may end up not getting those mortgages.
All comments (108)
2% after, calculated from original amount.
I have learned something today.