04.11.11 by Andrew Montlake
Rock-Bottom Remortgage Rates
For a while now we have been highlighting the fact that this year has been a good time to remortgage, we make no apologies for that. With product rates sat at an all time low and only likely to move in one direction, the real question is how long rates will stay at this low level.
With all this in mind, we thought it would be a good idea to show how passionately we believe it is a good time to remortgage by offering a no obligation mortgage & protection review.
It is always worth checking that you have the best possible product to fit your circumstances, especially as many remortgage products now come with free valuation and free legals to make transferring quick, easy and inexpensive. What is more, we will also check you have the right protection in place to give you greater peace of mind.
We are approaching some key events, most notably the on/off Greek referendum which will have ramifications not just for the future of Europe but funding costs around the globe. In recent weeks we have seen 3 month Libor edge up and SWAP rates rise (upon which fixed rate pricing is based).
Secondly, the FSA is due to issue a paper regarding Mortgage Regulation, with many waiting with baited breath to see what might become of potential rules around interest only mortgages, income multiples and loan to Values.
There were, however, two items of positive news yesterday to warm the cockles of our hearts. First of all the UK’s GDP figures showed a small, but welcome, return to growth, turning in a better than expected 0.5% increase in the third quarter.
Secondly, the Nationwide house price index has shown a slight rise in prices year on year, the first time this has happened in six months, (http://www.bbc.co.uk/news/business-15528740).
So against all this conflicting backdrop, if you want to know exactly where you stand, please give us a call on 020 7220 5110 or complete our quick and easy online form here.
Our Best Buy Remortgage Recommendations (With Free Valuation & Legals)
Best Residential 2 Year Fixed
| Lender | Initial Rate | Until | Subsequent Rate | The Overall Cost For Comparison |
| NatWest | 2.45% | 30.11.2013 | 4.00% Lender's standard variable rate | 3.80% APR |
Best Residential 5 Year Fixed
| Lender | Initial Rate | Until | Subsequent Rate | The Overall Cost For Comparison |
| Nationwide | 3.59% | 5 Years |
3.99% Lender's standard variable rate | 3.90% APR |
Best Residential Variable
| Lender | Initial Rate | Until | Subsequent Rate | The Overall Cost For Comparison |
| ING Direct | 2.25% Discounted Rate (1.25% below Lender's standard variable rate) | 30.11.2013 |
3.50% Lender's standard variable rate | 3.40% APR |
Best Buy-to-let
| Lender | Initial Rate | Until | Subsequent Rate | The Overall Cost For Comparison |
| Platform | 3.19% Tracker Rate (2.69% above Bank of England rate) | 2 Years |
5.00% Tracker Rate (4.50% above Bank of England rate) | 4.90% APR |
Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £495.
MAB 4017
Monty’s Mortgage Blog
18.05.12
Why Should A Borrower Choose To Use A Mortgage Broker?
There still seems to be a general misconception of what a mortgage broker actually does. Any brokers can tell you in seconds what the cheapest rate in the market is and, at various times, this will vary between a direct to lender product or a broker only deal, but this misses the point. Can this product actually be attained and is it the best to fit your personal circumstances?
Coreco
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