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gresty241
19 Oct 10 21:20
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Date Joined: 05 Jun 03
| Topic/replies: 3,299 | Blogger: gresty241's blog
hi chisel, if you remember some seven months ago i asked you for some advice on a mortgage and you advised me that the 3.09% tracker mortgage with no fees from santander suited best. Is this mortgage still around or is there a more suitable one now?
As i reminder i'm looking to borrow between 20-50k (property around 190k-220k, no set up costs & extra payments allowed while working.
ps i'm self employed Happy

cheers
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Report chisel October 20, 2010 11:34 AM BST
Gresty

Should be a little better now. For a small mortgage no fees is very important. Abbey do a 2 year Tracker with free valuation and no arrangement fee and £250 cash back. Th erate tarcks the base rate 2.59% over giving pay rate of 3.09%.

You are tied in for two years and you can also overpay by 10% of teh balance per year. Self employment is also fine, as long as yu have been self employed 2 years and can prove adequate income. There are cheaper deals, but it is probably cheaper on a small mortgage to pay a slightly higher rate and avoid the fees.

Let me know if you need anything else
Report gresty241 October 21, 2010 6:01 PM BST
thanks for the reply chisel Happy
Report Chilly the Dog October 22, 2010 1:44 PM BST
Two year tracker? No chance. Say hello to 10% interest rates before the 'limpics imo.
Report chisel October 25, 2010 11:01 AM BST
Chilly

The guy is taking out a 50k mortgage with plenty of income. Rates are NOT going up anytime soon..
Report statman99 October 27, 2010 8:08 PM BST
Your whole life depends on rates not going up doesn't it?

Sad really.
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