Best Mortgage Deals UK | For Home Movers | Episode 22

Hey everyone welcome to Mortgage Broker TV.
I hope you all really well. Today I wanted a look at the long-term mortgage deal for those
looking to move home and have that security of not having to worry about
interest rate fluctuations so today I’m looking at the best mortgage deal for home
movers on a 10 year fixed rate with a 90 percent loads of value threshold so
in other words you’ve got a 10% deposit for your next purchase on a 30-year term
it’s the best mortgage deal based on those parameters is with Coventry Building
Society at 3.25% which is incredible so really rather than commentary absolutely
amazing 3.25% on a 10 year fixed rate that’s incredible so fantastic quote on
commentary to give you an idea what that looks like in terms of the lenders fees
comment trailer moment only have a 999 pound fee which you can actually add to
the loan if you so wish the great thing about this deal is it’s got a free
evaluation there is a basic foundation so important to be aware of that if it’s
you know if you were to be a bit more depth with this one homebuyers will feel
structural survey you’ll have to pay for that whether you do that through the
lender will maybe get your own independent survey that’s up to you but
at least they give you a free basic valuation which is fantastic and that’s
it there’s no other costs so great rate minimal fees and you’ve got that long
term security when you’re looking to buy to give you an example of what that
looks like in terms of in a bit we’ll meet on the phone give you an idea what
the monthly payments are so let’s assume you could be buying your dream home and
you want it fixed for 10 years about three hundred thousand pounds you’ve got
a 10% deposit so that’s thirty thousand pounds for you mortgage should be two
hundred seventy thousand pounds so over this thirty year term the monthly
payments will be one thousand one hundred seventy pounds per month and
remember you’ve got that security of it being fixed so those puffy paints won’t
change for the next ten years so fantastic right world and country one
thing I will say about long-term fix rates and it’s really important that
anyone who’s looking to maybe do this is to really think about do you want to be
tied into that deal for that length of period of time because if you can
imagine a little can change in your life in six months twelve months two years
five years let alone years and very more when you’re looking
yourself into a deal you are locking yourself to do it doesn’t mean you can’t
come out of it at all it just means that if you do circumstances changing you
need to pay off the mortgage need to sell a house and you can’t port it and
whatever it is there are penalties and you need to really carefully think about
those options and again speaking to an independent advisor they’ll really be
able to help you guide you and help narrow down what your options are
illustrate the you know the positive seller straight you know the risks that
you take it to so that’s what we were some of the advantages speaking to
somebody who’s a professional and they can guide you based on whether your
circumstances are bit of an insight in terms of Coventry and you know where
they’re at I’ve said it before into his low
interest rates they’re super competitive at the moment they’re obviously hungry
for business but one thing and this isn’t so much to do the home buyers but
one little quirk in terms of their criteria for buy-to-let investors and
those who don’t know they’re by two there are more commentaries with a
company called work with diverse the different brands in the same company now
whether you uniqueness with that with the bite of that range is you don’t have
to be a current homeowner to go and buy an investment property law of investment
lenders buy-to-let lenders insist that you have to be an existing homeowner to
go and then go buy a bite of that property commentary you don’t so you
could be renting and they’ll allow you to go and buy a bison property however
you’ve got to be have been a previous homeowner first so that’s just a little
bit of insight something just a little you know share that little nugget of
knowledge I hope you guys find this really helpful and listen if you’d like
it please please give a little thumbs up share it comment and you know subscribe
if you’re someone out there who’s you know your friends maybe they’re talking
about moving it share it with them either hopefully the idea is to really
help people give us some an idea of what the best deals are so listen guys keep
tuned in for much more colloids catch up and species

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