First Direct are owned by HSBC..
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
First Direct are owned by HSBC..
Associate
- Joined
- 3 Jan 2024
- Posts
- 0
- Location
- London
Yes I know that, but the rates aren't the same.
Man of Honour
- Joined
- 21 Nov 2004
- Posts
- 46,335
Hopefully rates will be looking a bit better by the time we come to re-mortgage end of the summer. Will just fix for two. Will also stretch out the term to minimise our monthly payment. Ultimately this is our commuting house with over 3/4 equity in anyway, so don't care about repayments, although not tempted to go as far as interest only. If it was our main place I'd be working harder to pay it off.
You could ask for a proper valuation if you have reason to believe it might make a difference (home improvements made, evidence of other similar houses recently sold at higher value). Gamble though!Well I would help but I won't because I just logged in and they've devalued my house to 850
I need 40k to get into the next bracket! I could sell my car and my arse..........hmm.
Or you could try applying with other lenders with a higher valuation and see if the valuers go with it...
I'll bid.
Associate
- Joined
- 29 Aug 2012
- Posts
- 193
We’ve just done same. Fixed for 2 years at 4.88%. Knew it was coming down but couldn’t wait and end up on the standard variable rate on jan 1st. Least in 18 months we can re do it. Hopefully be down into the early 3% by then.
If you left it sat in cash then sure. Invested it’s over £60k in todays money.
Last edited:
Associate
- Joined
- 20 Oct 2002
- Posts
- 1,964
- Location
- Pateley Bridge, North Yorkshire
Yes. Preview of the Friday announcement.Was the rate for First Direct confirmed on the Sky News channel, as the website only states that they will announce the rates on Friday?
HSBC latest lender to cut mortgage rates as experts predict 'others bound to follow suit'
The UK's average two-year mortgage rate fell to 5.92% on Wednesday, according to Moneyfacts. Both Halifax and Leeds Building Society slashed deals earlier this week.news.sky.com
Ugggh what is life!?! We’ve officially started the new year trying to finish the mortgage in 6 years. Currently on 20 years left so going to be saving to the max to pay as much off as possible at the end of the remaining 4 years of fixed rate we have. Doing the numbers we then should be able to continue doing the same for 2 years to pay off the rest.
But sod it, being mortgage free is just too tempting seeing how much money is saved and avoiding this kind of uncertainty!
But sod it, being mortgage free is just too tempting seeing how much money is saved and avoiding this kind of uncertainty!
Not really, because presumably he doesn't have the pot yet and would be building that 1.8m in today's money over the next x years.
Last edited:
That’s true. If we are talking a 20+ year number then £60k isn’t as huge as you would expect based on today.
Last edited:
If they don’t then just shop around.
Deleted User 298457
Deleted User 298457
For those of us with 2 mortgages (i.e. we ported then topped up), we are stuck with nationwide unless we go fully variable on the first half so that the end dates align.
If we could get anything at 3.x I'd be happy TBH, we are coming off 2.6%. We've made loads of on paper equities, so the LTV is much, much better now. Our Area was just in another one of those top 10 best of the ghettos national paper lists, which doesn't hurt keeping prices up.
Soldato
- Joined
- 2 May 2011
- Posts
- 12,140
- Location
- Woking
I heard charity begins at overclockers
Can you not move one to a tracker? I have a vague idea at the back of my head that some of those have no early termination fees and they're definitely better than SVR?
Deleted User 298457
Deleted User 298457
I'm not sure -- I thought even the trackers have a minimum term/ERC. I will check though - as the first half is due April 1st, so I only need to survive till 1st September for the next half (and hopefully by then it'll be 2% and my house will be valued higher
)Edit: top man, I hadn't realised the trackers didn't have ERCs. I'll still have to do some maths, but combining my products was the main reason I only went for a 2 year fix when I bought this place!
Last edited by a moderator:
Some trackers don’t have ERC. I’m weighing up a tracker or a 2 year fix for this April. ERC is one of the considerations I’m making.I'm not sure -- I thought even the trackers have a minimum term/ERC. I will check though - as the first half is due April 1st, so I only need to survive till 1st September for the next half (and hopefully by then it'll be 2% and my house will be valued higher
Associate
- Joined
- 3 Jan 2024
- Posts
- 0
- Location
- London
I'm not sure if it's been mentioned, as I'm new to this thread, but Forbes have an article whereby they provide daily updates on what the latest rates are across the banks which is really useful.
www.forbes.com
Mortgage News: HSBC Sub-4% Fixed-Rate Deals Stoke Burgeoning Rates War
We have a suite of mortgage calculators to help you work out how repayments will affect your household finances, what you could save by remortgaging, and t
www.forbes.com