Review rated by 17 Ciao members on average: helpful
This review received a counterstatement by a party concernedRead Comment
I am currently looking in to getting a mortgage. I have done quite a bit of research, i.e. shopping around, and the Halifax has offered me the best deal. I am aware they are the market leader for lenders, so this was my first choice, and I was even surprised myself to find how cheap they were. The mortgage I’m going to go for is a Fixed Variable Mortgage (contradiction I know). The mortgage is discounted a lot for 3 or five years then, it goes up to just below the rate of interest. This may be risky if the Bank of England raises the interest rates a lot in three years time, but with the money I’ll be saving within the three years, who cares. It was really easy applying as well, went in was asked a few questions and got an answer there and then. The customer service was really good as well, everything was explained well, which was great as I didn't know anything about mortgages before I went in. So my overall opinion of Halifax mortgages is:- You could do a lot worse.
Hi and welcome to Ciao. The concern in low start mortgages (which is what we are talking about here) is that the costs saved in the short term are merely carried forward and compounded so that you end up paying far more than you save. It is nearly always best to pay as much as soon as possible - unfortunately, for many purchasers this is simply not an option. Good luck on your future writings but I hope that you're not counting on your earnings from Ciao to pay that mortgage! Paul.
by (6%):
15.05.2001 18:03
Have been disappointed by Halifax recently... Thanks for the op and welcome to Ciao!
15.05.2001 14:51
Hi and welcome to Ciao. The concern in low start mortgages (which is what we are talking about here) is that the costs saved in the short term are merely carried forward and compounded so that you end up paying far more than you save. It is nearly always best to pay as much as soon as possible - unfortunately, for many purchasers this is simply not an option. Good luck on your future writings but I hope that you're not counting on your earnings from Ciao to pay that mortgage! Paul.
15.05.2001 14:49
What a good first op! Could do with a bit more detail though. Welcome to Ciao! anyway, hope to read more from you soon!