Hi

Go for the 10 year 5.29 or 5.39 fixed at West Brom BS - worth a punt on current market conditions!  Dont fix at anything more than 5.5%...in my opinion.  Fees are 999 for either deal or 1% if loan over 250K, 5.29 rate carries compulsory West Brom BS buildings insurance (boo!), 5.39% rate does not have compulsory lender insurance (hooray!) and has free val & legals...  Product is portable, and 1000 per month overpayments allowed.  Only downside is if you downsize or reduce mortgae as part of a house move, then you will be subject to penalties on the value of the amount you are reducing mortgage by.

Good buy though all in all

Chris

I am in similar earnings situation to you but all on my earnings (wife none).  I am currently remortgaging (onto a split repayment & Interest only - 50/50 - for 332K on a 500K property) and looking at fixed deals too. 

Best I have seen is West Brom BS with a 10 year 5.29% fixed, with fees of 999 + valuation and legals, which I reckon maybe worth a punt.  Catch is you have to take the West Brom Buildings insurance (via NU) which is a bit steep compared to for example Tesco (brilliant for B&C insurance).  West Brom loan max for the 5.29 deal is 250K, beyond this fees jump to 1% of loan value - however even for a bigger mortgage, the fees over 10 years aren't bad in my opinion.  I have never fixed for more than 3 years before, but this I think is excellent deal still 

If you dont like the fee structure, they also do a 5.39 fixed over 10 with free val & legals but still 999 or 1% set up fee - but NO compulsory buildings insurance (hooray).  Even if the BOE drop the interest rate 0.5%, you would still be virtually on base rate with the 5.29 deal..

 Theres plenty of deals in the 5.49 - 5.79 range with reasonable fees (2, 3 or 5 year fixed), personally I wouldnt fix on anything more than 5.59%, I think rates will drop and little and stabilise around the 5% mark over the next few years - but hey, none of us has a crystal ball !

 Any other comments on this welcome, before I decide :-)

Chris

Hi Ian,

Just updated my tri-gold can't find that exclusive yet, who is it with?

Regards

IAN

Hi,

Your IFA is not far wrong, it is a good deal compared to todays' market. You can get lower rates but with higher arrangement fees, which probably won't appeal to you? Your income and employment status is satisfactory with evidential accounts. If you ask your IFA to look at First Active with 5.75% for 2 years with a 999 arr fee. Free val & legals, that I believe is the closest comparison that you could look at? No offset facility though!!!

Regards

Ian 

Hello,

We are about to come out of a 5.34% Fixed deal in October with the Yorkshire B/S. The best they have offered me to stay is 5.94% fixed rate for 2, 3 or 5 years. This account has an offset savings capability and an application fee of £700 - which all in all I don't think is a bad deal.

Property Value: c. £400k ; Mortgage Value: £214k; Mortgage Term remaining 20 yrs.

Would an 'expert' recommend -

a) Sticking with them on that deal? - If so what should we fix for - 2,3 or 5 yrs?? Would it be best to fix for 2 yrs with the thought that the base rates will have dropped within 2 yrs and therefore get a cheaper rate next time around? OR 

b) Moving else where?? Are there better deals out there that we would qualify for? See below

Our income used to be approx £75k both full time employed when we took the original mortgage. Now I earn £48k FT but my wife is parttime self employed earning approx £25k. Would we struggle with a move to another lender from a salary perspective and employement status? My Wifes income for the past 3yrs accts has been 13k, 20k, 25k.

Any and ALL advise would be very welcome. I have approached an IFA but he seemed to suggest sticking with YBS. Which I was surprised at - I though he might be able to get a better deal for us???

Thanks

N.