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Depending on your circumstances, but it seems to be that there is better value out there from a number of lenders. How many agencies does your broker have?I would like to know from among the following mortgage types which would be the best one for me. I am taking a loan of 360,000 for 35 years. The broker wont provide an un-biased answer! Is there any govt. body that offer financial advice in this regard?
Variable
a. 1 Homeloan Variable 4.44% 4.5%
b. 2 Year Discount Tracker ECB + 0.85% Rolling to ECB + 1.25% 3.85% 4.3%
c. 3 Year Discount Tracker ECB + 0.95% Rolling to ECB + 1.25% 3.95% 4.3%
d. Tracker125 Available to All* 4.25% 4.3%
Fixed
a. 1 Year Fixed rate until 31/7/2007 Rolling to ECB + 1.25% 4.19% 4.3%
b. 2 Year Fixed rate until 31/7/2008 Rolling to ECB + 1.25% 4.39% 4.4%
If its a 100% or 95% mortgage thats an OK tracker rate after the discount period .
It could be BoS too
What % is the LTV , 100%??
80% should be ECB+1.1% no more
70% ECB + 1% no more
60% ECB+ 0.7-0.9% no more
Depending on your circumstances, but it seems to be that there is better value out there from a number of lenders. How many agencies does your broker have?
it will always track up or down with every rise and fall . 1.25% over is not a bad rate and would be 4.25% today with rate rises incoming this year.
a variable usually tracks up but not down so in the long term a tracker is better
If you are worried try a fix at about 4.5% for 2 years or 3 years instead of a tracker or variable and make sure there is no penalty to transfer to a variable at the end of the 2 or 3 years
Do not get a longer fix above 4.5% would be my advice but a year fix at 4.5% would be good business for you .
2 year fix 4.4% moving to Discount Tracker ECB + 0.95% looks very nice
nice fix .
what is this "rolling to ****" , the tracker should be 0.95% (good) or 1.25% (not so good)
All lenders deal with non nationals. Do you have a stamp 4?
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