I'm currently with HSBC on an 80% LTV product, looking at injecting some savings into the mortgage to bring my LTV down and get a better rate. Looking on their site, the best rate on tracker seems to be at 70% LTV unless you want to pay a whopping fee, is there any reason for this does anyone know?
Currently 70% LTV is:
BOE plus 2.19% for a £599 fee or
BOE plus 2.49% fee free.
60% LTV is:
BOE plus 1.88% for a £1499 fee or
BOE plus 2.19% fee free.
The 70% LTV bracket looks pretty good!
On a side note, what is a good guide to decide if the fees are worth it or not with a tracker mortgage? I presume the best way is to work out the difference in monthly payment on a fee paying product v's fee free and see how many months it would take to pay that back?
:beer:
Currently 70% LTV is:
BOE plus 2.19% for a £599 fee or
BOE plus 2.49% fee free.
60% LTV is:
BOE plus 1.88% for a £1499 fee or
BOE plus 2.19% fee free.
The 70% LTV bracket looks pretty good!
On a side note, what is a good guide to decide if the fees are worth it or not with a tracker mortgage? I presume the best way is to work out the difference in monthly payment on a fee paying product v's fee free and see how many months it would take to pay that back?
:beer: