Hi all, I'm a first time buyer and have recently had an offer accepted on a flat. I'm already some way down the process and have a mortgage offer from Abbey/Santander but have just spotted the offer from Halifax and am wondering whether it might be worth switching to them?
The Abbey offer is 3.74% fixed for 5 years, £995 booking fee (added to mortgage), £225 account fee with a free valuation survey and £250 cashback on completion.
The Halifax is 3.74% fixed for 2 years (or 4.59% for 5 years) with no product fees, aside from the valuation (£450ish) and they would pay the stamp duty of £1,550
The Halifax would seem a great deal in the short term (particularly the 2 year rate) but I would really prefer a 5 year deal (taking into account potential fees for remortgaging). I'm also worried about going back to the beginning of the process which would also mean paying back the Abbey valuation. I'm also buying an ex-council flat (although I think Halifax seem OK with this)
I have been using a broker (L&C) who was very much trying to put me off the Halifax deal but I'm not sure if this is because this deal isn't available through them! (still haven't found that out for sure)
I'm doing all this totally on my own so all helpful advice is much appreciated!
The Abbey offer is 3.74% fixed for 5 years, £995 booking fee (added to mortgage), £225 account fee with a free valuation survey and £250 cashback on completion.
The Halifax is 3.74% fixed for 2 years (or 4.59% for 5 years) with no product fees, aside from the valuation (£450ish) and they would pay the stamp duty of £1,550
The Halifax would seem a great deal in the short term (particularly the 2 year rate) but I would really prefer a 5 year deal (taking into account potential fees for remortgaging). I'm also worried about going back to the beginning of the process which would also mean paying back the Abbey valuation. I'm also buying an ex-council flat (although I think Halifax seem OK with this)
I have been using a broker (L&C) who was very much trying to put me off the Halifax deal but I'm not sure if this is because this deal isn't available through them! (still haven't found that out for sure)
I'm doing all this totally on my own so all helpful advice is much appreciated!