Does a 3-year fixed rate mortgage at 5.34% with no fees sound good at this point in time?
This is for a UK mortgage
This is an offer only for people who currently have mortgages with this company (who I don’t want to advertise!)…but generally you can get the fee added to the loan amount so you don’t have to pay it up front – obviously this is a bit of a scam and will cost you more in the long run, but it’s an option!
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If the cost of not paying an arrangement fee outweighs the cost over three years then yes (which will depend on the amount of money you will be borrowing). Obviously, it depends on what is going to happen to interest rates in the next three years. Trackers seem like a good idea at the moment – but most lenders have withdrawn them this week due to the interest rate cut. BTW – mind me asking who the mortgage is with? Haven’t been able to find a no-fee mortgage – the minimum outlay has been £299, which I simply can’t afford right now.