0.75% difference on 5 year fixed rates!

In the same email received this afternoon from our regulatory partners Intrinsic we learn that:

Newcastle Building Society are launching a 5 year fixed rate of 5.74% (80% LTV) and

Nottingham Building Society are launching a 5 year fixed rate of 4.99% (again 80% LTV), but on a "semi exclusive basis" and "the product comes with a free valuation, for both purchases and re-mortgages, and free legals for standard re-mortgages".

This just shows the differences for rates launched today!

I've just agreed a rate of 4.39% fixed for 5 years for a client on a purchase with a higher deposit.

New rates from Friday purchase and re-mortgage

In a week where we have started to see lenders fighting to appear in the "Best Buy" tables, the following rates will come out on 8th April:

4.15% Fixed to 30.06.13 up to 80% LTV, Booking Fee: £199 Arrangement Fee: £800 Valuation up to £670 included Remortgage Transfer Service included

4.85% Fixed to 30.06.14 up to 80% LTV, Booking Fee: £199 Arrangement Fee: £800 Valuation up to £670 included Remortgage Transfer Service included

4.99% Fixed to 30.06.16 up to 80% LTV, Booking Fee: £199 Arrangement Fee: £800 Valuation up to £670 included Remortgage Transfer Service included

Variable rates available at 2.59% (Base plus 2.09%) for 50% LTV, 2.99% (Base plus 2.49%) for 75% both for the life of the mortgage and with no early repayment charges. Booking Fee: £199 Arrangement Fee: £800 Valuation up to £670 included Remortgage Transfer Service included.

If offset is your thing because you are a high rate tax payer, self employed or have large savings then 3.49% (Base plus 2.99%) for 75% LTV for the life of the mortgage and with no early repayment charges. Booking Fee: £199 Arrangement Fee: £800 Valuation up to £670 included Remortgage Transfer Service included.

All these deals are available for re-mortgage too, so why not get in touch and let us review your current arrangements? No Fees are payable unless we can find a mortgage deal that leaves you better off than you would be otherwise and the lender is prepared to offer you the mortgage!

Nationwide BS latest to tighten interest only policy

Following the news from Lloyds / Halifax last week, Nationwide has announced this morning that:

"With effect from tomorrow, we will be amending our criteria for all new lending as follows:

• Interest Only and Part Repayment applications will be limited to a maximum LTV of 75%
• Applications which exceed 75% LTV will only be considered on a Repayment basis".

Never mind the Meerkats; just insure your "Essentials"?

Are you paying for more than you need, or blinded by all the small print?

"Essentials" is designed for First Time Buyers, First Time Insurers and Tenants.

Cover includes:    Up to three bedrooms
                           Buildings insured up to £250000
                           Contents insured up to £25000
                           Loss / theft key cover to £250
                           Pedal cycles to £500 (£250 per cycle)
                           Credit card cover to £150
                           Digital information cover to £150
                           Special events (weddings and Christmas) up to 10% of Contents sum assured.