Summarises UK Mortgage Rates ?
Q: Can anyone point me in the direction of a site which summarises UK Mortgage rates ? Does such a beast exist ? I've trawled the net for discounted rate deals from the major lenders but it nice to check over my findings with another resource so I can create a shortlist of lenders to talk to. (Best rates found so far seem to be C&G with 3% off a base rate of 6.85% for first year then 2% off for the second year but with a 5 year tie in - anyone found a better deal ?)
A: Getting a total of 5% off over a five year commitment is not a (very) good deal. Unless you need the benefit up-front, you seem to always get a better deal by taking a 5-year discount with a 5-year tie, than a 2-year discount with a *5*-year tie. If you're happy with a 5-year commitment then I would go for a 5-year discount product. One of the best rates of this type was the Abbey National last time I looked.