Mortgage Deals - Top 10 Mortgage Deals
Where are the best mortgage deals? With home loans getting ready to rise as we get closer and closer to an interest rate raise, or two or three, from the BoE, now might be a good time to check out mortgages and try and get yourself a good deal before the rates go up.Here are some of the best fixed-rate and variable-rate mortgage deals currently on offer. Bear in mind, particularly if you are from the US, that BS below stands for Building Society, not that other stuff it may evoke.
Loan to value is fairly self-explanatory it means that percentage of the house price that the bank is prepared to make you a home loan for e.g. 75% LTV means, for a 200K house, the bank will only lend you 150K so you need to find the other 50K somewhere else.
Don't forget the fees too ! Banks do love them. If you have the cash then pay the fees in cash upfront rather than adding them to the mortgage or loan, it will save you money in the long run.
Best Fixed Rate Mortgage Deals - Early 2011
Mortgage Lender | Mortgage Length | Interest Rate | Max. loan-to-value | Fee |
National Counties BS | Two-year fixed | 3.09% | 75% | £495 |
Hanley Economic BS | Two-year fixed | 3.70% | 80% | £499 |
Cheltenham & Gloucester | Three-year fixed | 3.95% | 60%* | £895 |
HSBC | Three-year fixed | 3.99% | 70% | £599 |
Market Harborough BS | Three-year fixed | 4.30% | 80% | £495 |
Principality BS | Four-year fixed | 4.89% | 75% | £0 |
HSBC | Five-year fixed | 4.59% | 70% | £599 |
Yorkshire BS | Five-year fixed | 4.69% | 75% | £995 |
Nottingham BS | Five-year fixed | 4.99% | 80% | £895 |
10 of the Best Variable Rate Morgage Deals
Mortgage Lender | Mortgage Length | Interest Rate | Max. loan-to-value | Fee |
The Mortgage Works | Two-year stepped tracker | 2.44% (base rate + 1.94%) in the first year, moves to base rate + 2.94% in second year | 75% | £595 |
Nationwide BS | Two-year tracker | 2.49% (base rate + 1.99%) | 70% | £900 |
First Direct | Two-year tracker | 3.49% (base rate + 2.99%) | 85% | £199 |
HSBC | Lifetime tracker | 2.29% (base rate + 1.79%) | 60% | £99 |
HSBC | Lifetime tracker | 2.49% (base rate + 1.99%) | 70% | £599 |
First Direct | Lifetime tracker | 2.89% (base rate + 2.39%) | 75% | £199 |
HSBC | Lifetime tracker | 2.89% (base rate + 2.39%) | 80% | £599 |
Coventry BS | Lifetime tracker | 2.99% (base rate + 2.49%) | 65% | £199 |
Market Harborough BS | Lifetime tracker | 3.45% (base rate + 2.95%) | 80% | £495 |
HSBC | Lifetime tracker | 4.29% (base rate + 3.79%) | 90% | £99 |
So there are some of the best mortgage deals currently available, take a look around the site there should be links to banks or lenders in the links.
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