Mortgage Rate

[saint_stevo]

What is a good mortgage rate?

 

I have a flat reserved and a mortgage agreed in Principle for 4.9% fixed for 2 years. I have had a look on moneysupermarket and can't make head nor tail of it all!

 

Also how much should i expect to pay for Solicitors fees? Been quoted £595+VAT

[Give it to Ron]

What is a good mortgage rate?

 

I have a flat reserved and a mortgage agreed in Principle for 4.9% fixed for 2 years. I have had a look on moneysupermarket and can't make head nor tail of it all!

 

Also how much should i expect to pay for Solicitors fees? Been quoted £595+VAT

 

How much are the setting up / admin fees?

Depends how much the mortgage is for and if you will save from the standard rate.

Solicitor fees can vary immensley.....ring round and get a few quotes - also speak to a few mates about who they used as a bad one can cost you loads in delays etc.

[saint_stevo]

£195 for setting up and admin fees. The mortgage advisor has been very good with comms etc, i just have no idea of 4.9% is any good?

 

Save from the standard rate? huh?

[SO16_Saint]

sent you a PM Stevo

[Ponty]

I got 4.something when I renewed my fixed rate with Abbey in July and that was about 2% better than most were offering.

[Doctoroncall]

Also depends on your level of risk you are willing to take. As the interest rates or so low, worth investigating the 'one account' (savings and mortgage combined).

[Give it to Ron]

£195 for setting up and admin fees. The mortgage advisor has been very good with comms etc, i just have no idea of 4.9% is any good?

 

Save from the standard rate? huh?

 

£195 seems cheap....is the MA setting you up with insurance?

Is the mortgage advisor tied to the building society you will get the mortgage from?

What I meant was lets look at the Nationwide.

http://www.nationwide.co.uk/mortgages/newcustomers/firsttimebuyer/variableinterestrates.htm

 

The Standard rate is less than the rate you will pay - but if rates go up?

with an election coming up I can see it being poltical suicide for Labour to see them rise way above 4.95% in the next 2 years though.

Do you think you will recoup the £195 set up fee within the 2 years is what I am trying to say.

 

I am not a mortgage advisor but own my own home....almost.

 

May be worth looking through here and asking advice http://forums.moneysavingexpert.com/forumdisplay.html?f=15

[norwaysaint]

We got ours reduced significantly recently after threatening to change to someone else currently offering a better rate. I forget the numbers, but it seems you can change it later if you try hard enough.

[mynameisthehulk]

I got 4.56% fixed for 5 years in May this year, with no set up fees. £595 is not bad for conveyancing.

[gonzo]

It depends on the level of equity you have. If your mortgage is 75% of the property or less, then you can get lower rates than that. If it's more than 75% then it's a bloody good deal.

 

PM me if you like, I'm a mortgage adviser so can give you some extra guidance if you want it.