Best Rate Mortgages

Posts Tagged ‘best rate mortgages’

Variable rate mortgage comparison

Friday, May 29th, 2009

The co-op jumps straight into the top spot with a fantastic rate of 2.49% – lets hope this kick starts the stagnant mortgage lenders into some competition, lower deposit percentages and lower rates are what we need.

Mortgage Company	Mortgage Type	Initial Rate	Monthly Cost	Time Period	Tie-in Period	25 year APR
The Co-operative Bank	Tracker	2.39%	£443	30/09/2012	30/09/2012	3.90%
First Direct	Tracker	2.89%	£468	term	none	3.00%
Alliance & Leicester	Tracker	2.95%	£472	24 months	24 months	4.80%
HSBC	Tracker	2.95%	£471	term	none	3.10%
ING Direct	Tracker	2.99%	£473	24 months	24 months	3.60%
Market Harborough Building Society	Discounted variable	2.99%	£473	24 months	24 months	5.20%
Principality Building Society	Tracker	2.99%	£473	31/05/2011	31/05/2011	4.90%
Marsden	Tracker	3.09%	£479	31/05/2011	31/05/2011	5.30%
The Co-operative Bank	Discounted variable	3.24%	£486	30/09/2012	30/09/2012	4.20%
Woolwich (Barclays)	Tracker	3.24%	£486	term	31/07/2012	3.40%
Beverley	Tracker	3.25%	£487	36 months	36 months	4.50%
Nationwide Building Society	Tracker	3.38%	£494	36 months	36 months	3.90%
Abbey	Tracker	3.39%	£494	36 months	36 months	4.10%
Loughborough	Discounted variable	3.39%	£494	24 months	24 months	5.00%

Based on the following:
100k mortgage value
160k house value
Repayment mortgage
25 year term
Variable rates
Remortgage

Tags: best rate mortgages, best remortgage, best uk mortgage rates, rate comparison chart
Posted in Rates - Variable Remortgages | No Comments »

Tuesday, May 5th, 2009

As most people are probably aware the rates that banks and buildings societies hand out vary massively. The current financial climate has altered this somewhat. The difference between getting a good rate and a bad one is surprisingly small all you have to do is find a deposit.

Some great tips on how to achieve the best rate mortgage:

1. Deposit Deposit Deposit – borrow, beg or steal ! If you have a deposit in the 20% area expect a good rate around 3 – 4% if you only have a 5% deposit expect a bad rate around 5% – 7%
2. Try to negotiate a normal mortgage rather than a buy to let mortgage, this could also create a massive reduction in interest rates
3. Over estimate your house value – this can create a larger deposit % on paper, thus giving you a better rate and saving some serious money!

Current best rate mortgages for first time buyers

Mortgage Company	Mortgage Type	Initial Rate	Monthly Cost	Time Period	Tie-in Period	25 year APR
First Direct	Tracker	3.09%	£479	term	none	3.20%
Furness Building Society	Discounted variable (stepped)	3.54%	£503	12 months	36 months	5.30%
Cumberland	Tracker	3.59%	£505	term	12 months	3.80%
Clydesdale Bank	Variable	3.99%	£527	term	none	4.20%
Yorkshire Bank	Variable	3.99%	£527	term	none	4.20%
Manchester Building Society	Variable	4.00%	£528	term	24 months	4.10%
Penrith Building Society	Variable	4.15%	£536	term	none	4.20%
Ipswich Building Society	Discounted variable	4.24%	£541	31/07/2012	none	5.00%
Loughborough	Discounted variable	4.24%	£541	term	36 months	4.40%
Share to Buy Ltd	Discounted variable	4.29%	£543	term	none	4.40%
Bath Investment & Building Society	Discounted variable	4.49%	£561	36 months	36 months	5.40%
Teachers Building Society	Discounted variable	4.49%	£555	36 months	36 months	5.10%
Mansfield	Discounted variable	4.54%	£558	36 months	36 months	5.30%
Norwich & Peterborough Building Society	Discounted variable	4.55%	£558	48 months	48 months	4.90%
Britannia Building Society	Tracker	4.59%	£560	term	12 months	4.80%
Tipton & Coseley	Discounted variable	4.59%	£560	30/06/2012	30/06/2012	5.00%
Hanley Economic Building Society	Variable	4.74%	£569	term	none	4.90%

Information based on the following:
100k mortgage value
125k house value
Repayment mortgage
25 year term
Variable rates
First time buyer only

Tags: best rate mortgages, first time buyer rates
Posted in Rates - FTB Variable Mortgages | No Comments »