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Credit Scores/Ratings and how to improve them

johnola said:
fudge that Mark phone up your current mortgage company and ask them for something closer to 1% fixed for 5 years. They’ll pass everyone to underwriting whose circumstances don’t fit the norm but being a contractor (even a new one
) isn’t at all unusual.

I know I was just banging on about the offset but we are gonna switch to repayment and first direct are offering a 1.09% rate fixed for 5 years. It was below 1% last week. That’s at 60% ltv with a £490 fee.
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I don't have a mortgage currently this will be our 1st one
 
johnola said:
fudge that Mark phone up your current mortgage company and ask them for something closer to 1% fixed for 5 years. They’ll pass everyone to underwriting whose circumstances don’t fit the norm but being a contractor (even a new one
) isn’t at all unusual.

I know I was just banging on about the offset but we are gonna switch to repayment and first direct are offering a 1.09% rate fixed for 5 years. It was below 1% last week. That’s at 60% ltv with a £490 fee.
Click to expand...
I don't think Marky is going to be near 60%ltv.:)

@markysimmo ...do watch the fees though, they have ramped up massively over the last decade. But it depends how much choice you get offered. You would have walked into anything at your last job.

Good time to get in though, as @johnola points out (and Mr Levy:D) rates are rock bottom, and if you're locked in for 5 years happy days.

Stress test it around 3/3.5% though...just so you know the costs if rates head back that way. People will always gravitate towards borrowing the absolute maximum at today's rates.

You wouldn't want to come to the end of a fixed deal bricking yourself.
 
SpurMeUp said:
a good broker will save you money potentially. You pay them for their work but you may save over the duration of the repayments. Pm me if you need a recommendation.
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Last time my broker arranged a mortgage for us (5 years ago) he didn't have any deals I couldn't find myself online.

He's a good broker, but mortgage companies have changed how they work now and it's easier to find the deals.
 
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