- Thread starter matt1978
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matt1978
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Yeah its simerla to that..........its 6.7% interest on what you lend but you also get that in interest in any savings you put in.
I am yet to believe it but from the calculator on the site if I paid what I am paying now and added some savings my mortgage term would go from 10 years to 4 yrs and 8 months!
I am yet to believe it but from the calculator on the site if I paid what I am paying now and added some savings my mortgage term would go from 10 years to 4 yrs and 8 months!
JimM
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Depends on how much of your income you spend each month. If you're in a position where you usually have some left over and don't plan on spending any of your savings for the next 10 years then it may be a good deal.
For someone like me who may have some leftover and some savings but will then blow it on a holiday, new kitchen or just enjoying life then a mortgage that offers a lower rate suits me better.
Just renewed mine with the Nationwide at 5.63% that's over a percentage point lower than the One account and I get the option to do what I want with my savings.
You may find that you are better off with a mortgage that offers a a better rate but lets you make overpayments
Just my 2ps worth
Jim
For someone like me who may have some leftover and some savings but will then blow it on a holiday, new kitchen or just enjoying life then a mortgage that offers a lower rate suits me better.
Just renewed mine with the Nationwide at 5.63% that's over a percentage point lower than the One account and I get the option to do what I want with my savings.
You may find that you are better off with a mortgage that offers a a better rate but lets you make overpayments
Just my 2ps worth
Jim
Well unless you have substantial savings it's over the odds; I'm on 4.99% mortgage, although that was fixed a couple of years ago (in anticipation of the **** now happening 
) so I would shop around a bit. Things have changed drastically since then & it's increasingly difficult to get deals, but I personally wouldn't be fixing anything... rates are heading South from here
weldequip
) so I would shop around a bit. Things have changed drastically since then & it's increasingly difficult to get deals, but I personally wouldn't be fixing anything... rates are heading South from here weldequip
matt1978
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I ain't got substantial savings, even just keeping it as repayment mortgage the same as what I got now, it wasn't a great deal less than the new fixed deal Halifax have offered me 6.64% or 5.79% with a £700 arrangement fee.
That 5.63% from Nationwide seems good, but there's £499 fee and fixed for 5 yrs?
That 5.63% from Nationwide seems good, but there's £499 fee and fixed for 5 yrs?
JimM
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I'm already with the Nationwide so didn't have to pay the 'reservation fee' - can't believe what some of them charge for that now !
Yep, it's fixed for 5 years, taken a gamble that the rates not going to move that much over the period, sure it will go up and down but hopefully will even itself out.
5.63% is about as good as I could find but still bloody awful compared to the 4.39% I've been on for the last 5 years
Yep, it's fixed for 5 years, taken a gamble that the rates not going to move that much over the period, sure it will go up and down but hopefully will even itself out.
5.63% is about as good as I could find but still bloody awful compared to the 4.39% I've been on for the last 5 years
matt1978
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Yeah its a nightmare isn't it, I think as long as your happy you can pay whatever the repayment is for the next 5 years I wouldn't take any notice of what's happening with the base rate.....there's a lot to be said for knowing how much you have got to pay and how long for.
JimM
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Agree with Weldequip on the way house prices are likely to go. Prices are totally unrealistic at the present and have to come down.
Plus you can bet your ass that sooner or later the government are going to tighten up on the buy to let mob - I bet most of the properties sold at the moment are declared as Principal Place of Residence etc so not paying the tax they should be. If the govt does introduce anything then they'll be a flood of properties hitting the market !
Plus you can bet your ass that sooner or later the government are going to tighten up on the buy to let mob - I bet most of the properties sold at the moment are declared as Principal Place of Residence etc so not paying the tax they should be. If the govt does introduce anything then they'll be a flood of properties hitting the market !
rtbcomp
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Luke - There's a house next to mine for sale, should get a good discount because of the neighbour, one further down on the other side and the "terrorist house" on the street at the top.
I'd prefer to keep mortgage & savings with different banks, so if there's a problem with a repayment they can't nick your savings!
I'd prefer to keep mortgage & savings with different banks, so if there's a problem with a repayment they can't nick your savings!
Luke
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Nurse woman moving out? or t'other side?
We could be off to Congleton or somewhere in Cheshire at least, if all goes to plan on Thursday.
We could be off to Congleton or somewhere in Cheshire at least, if all goes to plan on Thursday.
rtbcomp
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Yes, she's a midwife. I think we're a bit too common for her. Cheshire eh? you must have won the lottery then.
