| Looking for a Mortgage [message #380021] |
Mi, 12 April 2006 20:30 |
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Hi.
Just a quickie - a friend of mine is looking for a mortgage, so I'd
thought I'd float in here and see if there's much difference between the
high street offerings at the mo.
TIA for any suggestions.
Cheers,
Danny
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| Re: Looking for a Mortgage [message #380024 ] |
Mi, 12 April 2006 21:02 |
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Trinny Radio <trin [at] radio.cnut> wrote:
>Just a quickie - a friend of mine is looking for a mortgage, so I'd
>thought I'd float in here and see if there's much difference between the
>high street offerings at the mo.
Why bother with the high street unless they're the type of person that
needs to do things face to face and accepts the higher costs ?
< URL:http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?ne wsid1101649966,86816,#>
The Charcol site is good for seeing what's available -
<URL:http://www.charcol.co.uk/> as are the tables from the Financial
Services Authority <URL:http://www.fsa.gov.uk/tables/>
Daytona
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| Re: Looking for a Mortgage [message #380077 ] |
Fr, 14 April 2006 11:18 |
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Trinny Radio wrote:
> Hi.
> Just a quickie - a friend of mine is looking for a mortgage, so I'd
> thought I'd float in here and see if there's much difference between the
> high street offerings at the mo.
> TIA for any suggestions.
> Cheers,
> Danny
There are websites which allow you to compare mortgages from a large
number of providers - have a look at the sites below:
http://www.moneysupermarket.com/mortgages/mortgage.asp
http://www.moneyfacts.co.uk/menus/main/menu_mortgages.htm
Gareth
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| Re: Looking for a Mortgage [message #380222 ] |
So, 16 April 2006 17:26 |
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Trinny Radio wrote:
> Just a quickie - a friend of mine is looking for a mortgage, so I'd
> thought I'd float in here and see if there's much difference between
> the high street offerings at the mo.
I did a quick comparison of a few mortgages using Excel the other month,
where I found a value for the 'APR' that considered only the initial deal
period. Nationwide's 2yr mortgages with the higher arrangement fee (fixed
and variable) looked like the best deal I could find for the sample case of
a £100k loan. I also found that for several lenders, I was unable to see how
their advertised rate corresponded with the quoted monthly repayments. The
information that lenders are required to provide is not much use, as it
assumes you will stay with that mortgage product for the full term of the
loan. The 'true cost' calculations that some websites provide might be
useful, but I can't see how these are worked out. Certainly, the Nationwide
mortgages didn't rank especially highly in the comparison sites I checked,
despite apparently being the best option when I calculated it manually.
Joe
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| Re: Looking for a Mortgage [message #380240 ] |
So, 16 April 2006 23:49 |
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In message <4442620d$0$33908$ed2619ec [at] ptn-nntp-reader03.plus.net>, Joe
Kelleher <UsenetApr2006 [at] smartREMOVE-THESE-CAPITAL-LETTERSscience.co.uk>
writes
> I also found that for several lenders, I was unable to see how
>their advertised rate corresponded with the quoted monthly repayments.
Be aware that lenders apply the accrued interest differently. If you
rely on an inbuilt function in Excel then, for many lenders, you will
get the wrong answer.
--
John Boyle
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