Unlike many other best buy tables we don't just include broker only mortgages, we also show you the majority of direct deals. The only mortgages that might be available that we can't show are ones that are exclusive to specific brokers or comparison sites.
Halifax 27mth Fixed:
Currently 1.43% with set-up fees of £1,199 and available on properties with a Max LTV of 80%.
The total amount payable is £186,859 and the overall cost for comparison is 3.8% APRC. What does this mean?
APR - What does this mean?
This is the official cost for comparison which is based on the average cost per year if you kept the mortgage for the entire 25 years and interest rate charged never changed. Most people will never actually pay this rate. For further reading see Martin's why mortgage APR's are meaningless blog.
You have a choice. You can either get independent advice from a broker or, if you're confident enough, go direct to a lender.
A broker can check this is the best deal for you and do all the paperwork. There are two types:
Checks all deals available to brokers (not those available exclusively via lenders). Including:
London & Country*
Fees free, online* or telephone-based service 0800 073 1957
GO*
If you're unsure, or word-of-mouth hasn't yielded success, try:
Application Fee
Upfront fee paid on application to book the rate for you. Often not refundable if mortgage doesn't go ahead.
Product Fee
Fee to lender for setting up mortgage. If you pay upfront and mortgage doesn't go ahead you might lose it. Usually able to add it to loan to avoid this but overpay (if your lender allows) once the mortgage is set up to avoid paying interest on it.
Overpayments
This is a payment in addition to normal monthly payments. This is usually restricted by lender and carries heavy penalties if you breach the limit.
Early repayment charge
The penalty the lender can charge you if you exceed the overpayment limit or if you pay the mortgage off too early. Usually a percentage of the overpayment, it can be a flat rate or tiered with a bigger penalty the earlier in the mortgage term you incur it.
Cashback on completion
A lump sum from the lender when the mortgage has started. It is usually sent to your solicitor who will send to you. Beware, if you repay the mortgage when an early repayment charge still applies, you may need to repay the cashback as well.
Free Valuation
The lender requires a valuation of the property to be conducted by a provider on its panel.
Free legals
You need to do legal work to buy a home, some lenders provide this for free.
Maximum LTV
LTV = Loan-to-Value ratio which is the loan described as a % of the property price/value (whichever is lowest). Each product will have a maximum % of the property price/value you can borrow. Beware that your affordability assessment may prevent you from being able to borrow this maximum LTV.
