Best uk mortgage rate
So what is the best mortgage rate in the uk
I haven't found the best mortgage rate for me as yet and as with everything on this site you can only say what good for you.
I have looked up quite a few today let alone over the past few months.
At present I think the best rates for first time buyers maybe the fixed rate on at a introduction rate.
An example would be something like fixed for 2 years at 3.8% APR going up to 6% APR after that 2year stint.
My personal view in that your paying for more interest at the start of the mortgage due to the fact that you borrowed say 120k and after 1 year it could be 115k vs 118k on a lower rate.. This impacting on the overall repayment structure as you’ll have to make up for that short fall but the intro rate are tempting..
In conclusion it think within say 2 years we'd rather be paying double the repayments cutting the length of the mortgage by a large amount...
