Just a quick note for anyone who's mortgage deal is ending in the next month or so. If you are in this position and would like to see if you could save some money, let me know on here . I work at the abbey so im sure i could save alot of people money. Maybe some of the saved money could go to the shirt sponsorship!
cheers
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Wow, its going to be a bit higher then 4.29%!! shame these sort of rates aren't around at the moment.
3 years you are looking at 5.99% depending on your loan to value. 5 years the lowest at the moment is 6.39%. Both of these include your survey and valuation fees paid by the abbey. If your deal ends in jan, you may want to wait a little longer, especially if you are going to get charged anything to leave your current mortgage. hope this helps
To answer Suzi - best bet is to check your offer letter that you would have rec'd at the time. cafcbrown is partly right, some mortgage deals run from when you completed on the loan but the majority have a specific date. Ie, a 2yr fixed with C&G launched today may run until 31/07/2010 even if you don't complete until november.
To answer razil - most lenders treat interest only the same as repayment, although some may limit them to a max loan to value as cafcbrown indicated - more likely 75% (ie, £400,000 value - £300,000 loan)than 50% though.
always ,always, always take independant advice - check websites & do some homework first.
Both of us are "independant" mortgage brokers/consultants/advisers.
Firstly CAFCBrown- your post may well be well intentioned but could also be thought of as self promoting or spam as i (less subtly as G/A) would call it.........
My advice for anyone buying anything is-
1/ take independant advice- be prepared to pay for the advice- and that applies to everything. Most on here wouldn't buy all there electrical goods form one place, let alone our mortgages, which will almost certainly be our biggest ever financial transaction....
2/ get the independant advice from someone you trust and know- if you don't " trust and know" someone get recommendations from friends/family to someone who fits that catagory.........
Oh and finally- Interest only- the most important thing isn't who does it up to whatever % loan to value but is it right for you...
or "don't" :-)
Due respect to Stanny & Golfie, - but how can we be sure that even Independents act in your best interests - rather than chase the best commission deal for themselves?
As for commision based, This is untrue for a bank employee, as we get paid a basic salary.
No harm intended here guys, if i was seriously scouting for business i would have left my branch, mobile and email on here!!
Just wish i was on a footballers salary, then mortgages would be the least of my worries!!
cheers for advice guys, i may be back on monday with more questions!!!
Because all Independant Brokers are strictly monitored by FSA. If they have been found to mis-sell or select one on commission it is likely they will be heavily fined or indeed have their license to sell revoked. A Broker will tell you what the best deal is from across the whole market not just one bank, final choice is yours at the end of the day though.
Petrol and diesel are meant to have come down in price too over the last week or so... that'll decrease inflation too, won't it?
However, the following month will probably go up again, with gas going up 33% and electricity going up also
Cheers, Ketman, just looking for reassurance.
I'm not happy with the way my deal was done - and I might very well seek advice.
Thanks for your comments, though.
I think that "strictly monitored" is a bit of an overstatement here. "Regulated" is more accurate, and probably still not entirely regulated enough - and I say that as someone who has met and worked with many many IFA's over the years. There are still a lot of IFA's out there who, shall we say, live very close to the edge. And that's not me saying that - it's what other IFA's tell me.
At the end of the day, what with the internet and the various search/comparison websites, it's pretty easy to find yourself a good deal these days with only a minimal amount of research or time. Granted that IFA's do have access to better deals, but the thought of paying someone £500 in order for him to type my details into "Moneysupermarket.com" and read off the screen doesn't really appeal that much!
Pension advice on the other hand is something completely different - that really is a dark art!
Crystal... I did A Level business studies and economics mate ;-)