Budget 2010

[Uncle Spielberg]

well if you want to be pedantic, i meant tracker which is essentially the same thing (the rate varies). And right now, Nationwide will offer a first time buyer a 2 year tracker at +4.13% (4.63%) rate or a 2 year fixed at 5.74. fees of £898 on each of those, or pay 0.3/0.2 more respectivly for a fee of £396. so 7% and £1k is a little wide of the mark.

as always consult a proper independent financial advisor. you have not been charged for this information.

fair points, variable is the lenders rate and tracker is the bank linked rate but your jist is right, the rates you refer to above are dependant on your having to have your bank account with the nationwide and the fixed rate is 5.98% and they are accepting around 1 in 4 applications

 

[Uncle Spielberg]

I agree you should always consult a proper independant financial advisor. Thanks for the recommendation

 

[Bozza]

Darren, your being a bit naughty. You know I mean the lenders variable rate which was what was being referred to. Yes a tracker is variable but variable to the Bank base rate a lenders variable rate can be increased or decreased when they see fit. Anyway there are no LENDERS VARIABLE RATES anymore.

fair points, variable is the lenders rate and tracker is the bank linked rate but your jist is right, the rates you refer to above are dependant on your having to have your bank account with the nationwide and the fixed rate is 5.98% and they are accepting around 1 in 4 applications

Come on GG - it was clear what he meant, although I think you realise that now.

And, let's face it, any lender's SVR was pretty much a base rate tracker anyway. Just as a modern day tracker is.

 

[Uncle Spielberg]

HSBC offer great rates but good luck in actually getting a 90% deal. Also the customers will be hard sold every insurance they can possibly sell you as with the nationwide as this is where they really make the money. Anyway enough.

 

[Uncle Spielberg]

Come on GG - it was clear what he meant, although I think you realise that now.

And, let's face it, any lender's SVR was pretty much a base rate tracker anyway. Just as a modern day tracker is.

Not really but anyway he made some good points. I think the variable rate is not really a tracker rate anymore as 13 lenders have increased their variable rates this year even though the bank rate has not gone up.

 

[Bozza]

13 lenders have increased their variable rates this year even though the bank rate has not gone up.

I thought variable rates did not exist any more?

you cannot get a variable rate mortgage anymore , no lenders offer them

 

[Uncle Spielberg]

Darren considering you ban people for fishing and trolling you have to be one of the worst culprits on here. Either that or your brain has been removed. Sorry but to make it clear for the hard of understanding. Variable rates are not available for NEW borrowers which is what we were talking about. OBVIOUSLY existing borrowers are on variable rates.

 

[Uncle Spielberg]

13 lenders have increased their variable rates this year even though the bank rate has not gone up. - FOR EXISTING BORROWERS.