| Archive for Downsizer For an ethical approach to consumption |
| sean |
Hurrah, we're not all doomed...We just have to move our mortgages to HSBC. BBC |
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| Fee |
Looks promising, I'll get Paul on the case as our fixed rate 2 years has just ran out, new rate is at 6.2% with Woolwich (or should I say, Barclays)!!
Hmmm, def. looks good! |
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| Northern_Lad |
Hmm. Not happy with my mortgage now. Ho hum, still got a good rate though, so no point in moving at the moment. Only 18.5 years to go... |
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| Jonnyboy |
Anybody have one of those all in one accounts? | ||||
| Nick |
Now, where can I get a large Fee to put down? | ||||
| Northern_Lad |
Looked at it and it just didn't look right. They do work, provided you've got a lot of cash already in the bank. If you've only a couple of grand they they appear to work out more expensive from my observations. |
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| Jonnyboy |
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| Fee |
I'm not worth that much 
Looking at the HSBC Fixed rate deal, there are fees for overpayments, so not really any good for us, the tracker looks interesting though. |
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| Treacodactyl |
Assuming you'll need to get your house revalued some people might get a shock if they've only owned for a year or two. Yesterday I resisted the temptation to misleadingly post up that house prices were falling by an annualised 30% (based on the 2.5% fall for last month), but even if they fall by 10% this year it could cause problems for people re-mortgaging as their LTV could get worse. Might be worth doing a few sums if you need to. |
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| wellington womble |
They're nice if you need to sit on money - say, if you're self employed and need to stash the tax-man's share somewhere for a bit....... |
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| MarkS |
nothing to see. | ||||
| Penny |
Prices have to fall now - banks are not going to lend more that 3 times salary with a good deposit anymore, so prices must come down, to fit people's salary and those criteria.
Think we'll just carry on renting for now... |
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| Bebo |
Haven't got a mortgage anymore - sorry to gloat | ||||
| Rob R |
Have got a fixed rate for the term mortgage, so will gloat in smaller letters. Haven't got a house though, damn. |
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| Bebo |
Bugger, can't be fun having a mortgage on an imaginary house |
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| Rob R |
A lot easier to clean, though. |
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| Bebo |
Oh, good point. Where can I get one? |
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| sean |
It's no good whispering, we know you're both in there.
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| Rob R |
Ssssssshhhhhhhh!!!!!!!! |
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| yummersetter |
we did this six months ago http://www.natwest.com/business02.asp?id=BUSINESS/BORROW/MORTGAGES/OFFSET_BANKING
as we're a self-employed partnership. So far it's worked out well as we've kept our tax and VAT money in a Natwest deposit account that's offsetting our mortgage interest charges. |
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| jema |
Very interesting, I know I am keen to find something that allows over payments, when our fixed interest deal ends. I get quite piddled off that on the one hand they tell you your endowments ain't hacking it, on the other hand you can't pay more with penalties 
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| RichardW |
I think they ALL have to let you pay 10% per year fee free or they are seen as not wanting you to clear the debt which is frowned upon. They just keep it quiet. Also had a nod from some one in banking that they dont actualy watch the mort account very well so you can slip some money in directly if you dont do it via normal methods.
Justme |
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| yummersetter |
As a self-employed partnership (photography, how unreliable an income is that?) it was the flexibility that attracted us. However, financial astuteness isn't my strength (otherwise right now I'd be logged into Upsizer.net) so if you spot any pitfalls in the NatWest scheme, do let me know. My attitude to banks is that if I can't see the catch it's still there, just camouflaged. |