saint_stevo Posted 28 September, 2009 Share Posted 28 September, 2009 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 Link to comment Share on other sites More sharing options...
Give it to Ron Posted 28 September, 2009 Share Posted 28 September, 2009 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. Link to comment Share on other sites More sharing options...
saint_stevo Posted 28 September, 2009 Author Share Posted 28 September, 2009 £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? Link to comment Share on other sites More sharing options...
SO16_Saint Posted 28 September, 2009 Share Posted 28 September, 2009 sent you a PM Stevo Link to comment Share on other sites More sharing options...
Ponty Posted 28 September, 2009 Share Posted 28 September, 2009 I got 4.something when I renewed my fixed rate with Abbey in July and that was about 2% better than most were offering. Link to comment Share on other sites More sharing options...
Doctoroncall Posted 28 September, 2009 Share Posted 28 September, 2009 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). Link to comment Share on other sites More sharing options...
Give it to Ron Posted 28 September, 2009 Share Posted 28 September, 2009 £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 Link to comment Share on other sites More sharing options...
norwaysaint Posted 28 September, 2009 Share Posted 28 September, 2009 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. Link to comment Share on other sites More sharing options...
mynameisthehulk Posted 28 September, 2009 Share Posted 28 September, 2009 I got 4.56% fixed for 5 years in May this year, with no set up fees. £595 is not bad for conveyancing. Link to comment Share on other sites More sharing options...
gonzo Posted 30 September, 2009 Share Posted 30 September, 2009 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. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now