Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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Brilliant 
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Stu_22
Member
Registered: 25th Mar 02
Location: Luton
User status: Offline
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quote:
Originally posted by Cosmo
quote:
Originally posted by Stu_22
But what sort of deposit do you need. I got a fixed rate for 3 yeas at 7% but thats 100% mortgage.
God knows what will happen after that
When did you get that? Thats really high, but I suppose for 100% you cant always have the pick of the offers.
Think that was with approx 15% deposit.
Just before the credit cruch kicked off here, thats the only deal we could get then so would be stuffed now
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
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Thought as much, thats why the rate is so high - although you wouldnt get a 100% now.
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_Allan_
Member
Registered: 24th Mar 04
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Best I can find at the moment and as a first time buyer is 4.15% with the Post Office fixed for 5 years at 75% LTV. Deffo thinking of going for this before the climb of prices again.
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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4.15% fixed for 5yrs 
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John
Member
Registered: 30th Jun 03
User status: Offline
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That's good.
25% of anything is a LOT though.
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_Allan_
Member
Registered: 24th Mar 04
User status: Offline
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quote:
Originally posted by Cosmo
4.15% fixed for 5yrs
I'm not sure if your shocked at the 5 years or the rate.
For a first time buyer and a little green on the whole mortgage side of things in general. I can't see the BofE rate getting any less. As banks seem to charge at the moment 3%-4% ontop of the BofE rate then I can only see things going up. Yes I could get a cheaper 2 year fixed rate but I bet in two years time the next fixed rate will be around 4-6%. We both think having a fixed cost for the next 5 years will allow us to budget.
As John said 25% of anything is alot but as long as we get the new build house at the reduced rate we want, it's value should only stay the same or increase and hopefully the money will be invested safely.
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J da Silva
Member
Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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quote:
Originally posted by Cosmo
4.15% fixed for 5yrs
Alot of the banks are offering stuff like or around 4.15% for 5years, my brother just got 4.39% fixed for 3 years at Halifax, put 15% down and hopefully when he comes out of his fixed rate he'll have saved enough up to go to the 'One account'.
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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No, Im not amazed at the actual rate, thats to be expected at the moment, I am amazed banks are actually offering such long terms.
Its very likely that when the markets begin to rebound fully, in a couple of years maybe, the interest rates are going to go a fair amount up - and a 5yr term is maybe just long enough to see out the major rate hikes and for things to return to some sort of normality.
I put off moving from my apartment to a house and getting a mortgage about a year ago as knew this was going to happen, but I really didnt expect to be seeing these sorts of deals on the table (2yrs, maybe 3, but not 5!). May get myself a meeting with an advisor next week and see what sort of deal I can get as will have a big deposit to put down on any deal.
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Faye_2003
Member
Registered: 5th May 03
Location: the gutter :(
User status: Offline
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quote:
Originally posted by J da Silva
quote:
Originally posted by Cosmo
4.15% fixed for 5yrs
Alot of the banks are offering stuff like or around 4.15% for 5years, my brother just got 4.39% fixed for 3 years at Halifax, put 15% down and hopefully when he comes out of his fixed rate he'll have saved enough up to go to the 'One account'.
He ended up taking the 5 year option but you went away just before he did but it was fixed at 4.47 on the 5 year one.
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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I have a One Account
perfect really
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ENB
Member
Registered: 24th Apr 06
User status: Offline
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quote:
Originally posted by Cosmo
No, Im not amazed at the actual rate, thats to be expected at the moment, I am amazed banks are actually offering such long terms.
Its very likely that when the markets begin to rebound fully, in a couple of years maybe, the interest rates are going to go a fair amount up - and a 5yr term is maybe just long enough to see out the major rate hikes and for things to return to some sort of normality.
I put off moving from my apartment to a house and getting a mortgage about a year ago as knew this was going to happen, but I really didnt expect to be seeing these sorts of deals on the table (2yrs, maybe 3, but not 5!). May get myself a meeting with an advisor next week and see what sort of deal I can get as will have a big deposit to put down on any deal.
I got my 5 year deal, which went through the application process literally the weekend before they removed 100% mortgages, around May/June last year. I paid a 5% deposit.
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J da Silva
Member
Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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quote:
Originally posted by M2RTY
I have a One Account
perfect really
Your telling me, I had this for a bit and I'm not going into my financial status but I basically swallowed my house up in no time.
These accounts are good for people on top brass with loads of savings though, not ideal for a first time buyer (other than the fact they'd get refused anyway).
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