The Times case study - Home-hunters' moment of truth nears
Graham and Georgia switched mortgage broker to Trinity Financial as they wanted a second opinion on the deals available to them.
Aaron Strutt, of Trinity, says: "Graham preferred a fixed-rate mortgage so that they know exactly what they will be paying out on a monthly basis, and this tied in with our recommendations."
After looking at two-year and five-year deals, they settled on a three-year fixed rate from Nationwide Building Society at 3.99 per cent with a £499 fee, which was available up to 85 per cent loan-to-value.
"Fixing for longer could potentially restrict them from moving during the next five years. We also suggested the possibility of property prices increasing over the next three to five years, which meant that if they were not locked in for too long they might be able to remortgage on to a lower loan-to-value deal after three years and potentially get a cheaper rate," says Mr Strutt.
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June 8, 2013
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