We went round for a second look at the house on Saturday and we are even more pleased that before. Sarah took some photos of the house and we have been making plans all weekend.
We also went to see blundells Mortgage adviser and talked to him about the our options. He found a pretty good deal from the Halifax for a tracker at .14 above the base rate and some average fixed rate ones. We just don’t know what to do. On one side we are tempted by the longer term, 10 years plus, fixed option to protect us from future rises but we would be paying a lot more for the near term as they are at least one percent higher that the trackers. The other option is to go for the tracker to start with and make the most of the current low rates and just keep changing it as we go. This would allow us to be a lot more flexiable in the future as the fixed rate mortgages have between three and five percent redemption penaltys. We are tempted now to go into the local halifax and get the whole thing sorted today as they will do the same deal as the blundells without selling us insurance or charging us a £250 admin fee.
We did look at smile and the co-op bank because of thier ethical investments and they make a donation to an environmental charity to offset our evil house owning but they can’t really compete with the other banks offers.
I was annoyed by the fact that the RBOS group made some stupid 7billion profit and was determined not to go to one of the big banks but the an artical in the paper pointed out that it’s only because people are too lazy to move banks that these bigger banks can make that sort of cash. So we owe it to society in general to get the best deal we can to stick it to the big banks!Listen to this podcast