My
weekly review of all mortgage products available indicate the following best-buys.
All examples are for two-year schemes for an average mortgage (£108,000
against a property value of £180,000), repayable over 25 years.
"Best
buys" are determined by overall cost over the two-year period. Invariably
there will be mortgage products available with lower rates, however their overall
cost will be greater due to higher associated fees. You may see lower rates published
in the Sunday Times and other papers but I have quoted the schemes with the lowest
overall cost.
| Rate |
Expiry |
Subsequent
Rate | Lender
Fee | Valuation
Fee | Total
Cost
Two years | Overall
Cost for Comparison | Monthly
Repayment | Early
Repayment
Fee
| | |
| Purchase |
| 6.25 |
31/11/10 |
6.49 |
0 |
225 |
17,349 |
6.7
APR | 715 |
3%
of loan to be paid until 31/11/10 |
| Re-mortgage |
| 5.74 |
02/01/11 |
7.09 |
499 |
0 |
16,790 |
7.1
APR | 679 |
3%
of loan to be paid until 2/01/11 |
| Buy-to-let
purchase | | 6.99 |
31/01/11 |
6.74 |
595 |
415 |
19,373 |
7.2
APR | 763 | 5%
of loan to be paid until 31/01/2011 | | Buy-to-let
re-mortgage | | 5.99 |
31/01/11 |
6.74 |
2,700 |
415 |
19,360 |
7.1
APR | 695 | 5%
of loan to be paid until 31/01/2011 | | Tracker/Discount |
| 5.59 |
Lifetime |
5.59 |
0 |
325 |
16,417 |
5.8APR |
696 |
1%
of loan to be paid until 31/01/12 |
Please call or
email if you would like further details or to enquire about mortgages to suit
your personal circumstances For
a no-obligation initial consultation call me on 01626 200305 There
may be a fee for mortgage advice. The exact amount will depend on your circumstances,
but we estimate it to be 0.2%. Your
home may be repossessed if you do not keep up repayments on your mortgage or any
debt secured on it. Trevor
Irons is a fully qualified authorised associate of Mortgage & Finance Solutions
Ltd.
Mortgage &
Finance Solutions Ltd
is an independent mortgage proposition and is an appointed representative of The
Mortgage Times Group Limited, 279 Tottenham Court Road, London, W1T 7RJ. The Mortgage
Times Group is authorised and regulated by the Financial Services Authority (303007). | 