Are there no discount tracker mortgages anymore?

[slowlygoingcrazy]

cos I can't find one!

two year tracker coming to an end this month, it's -0.13% of the base rate and is currently 4.79%. anyway, from next month they say it is 6.49% which is putting our mortgage up by over £100 a month. We can't afford that. We scrimp by as it is.

Have looked around and the best I can find is 5.79 but then they all comes with big admin fees.

Are there no discount trackers anymore? Please help!

Martyn Lewis on moneysavingexpert. con says the three steps to finding a good mortgage are:

• see what the best rate your current lender can offer is.
• Go to a Whole Market Broker and see what they can do
• Look at the direct deals through Financial Services Association

He also says to plan 6 months before your current deal runs out.

If you've found one for 5.79% that sounds pretty good in this climate, even with fees. Who's it with? We have a two year fixed rate coming to an end in January and so I'm looking now.

It's with Nationwide, that's who we're with now. They say it'll go up to 6.49 next month yet if you look on the site it says if you're with them and your current deal is coming to an end you can go straight onto the 5.79, although for a fee of course, I think it's £499. Some of the fees with others of £2k and such!

Thank you for your advice, will keep on searching and comparing!

5.79 sounds low It must have a high charge or you need a big deposit/equity.6.79 sounds more like what the majority are quoting

sorry, it's 5.74% with £599 fee, tracker for 3 years

YOu can get the fee added onto your mortgage. Of course not ideal as it will end up costing you loads more in the long run, but useful if you're scrimping now.

we are looking now too, we are with NRock at the mo and there is no way they'll give us a decent rate, as they are trying to get rid of their mortgage customers. First Direct who we bank with have some reasonable rates. Bear in mind that sometimes a large admin fee means the headline % rate actually works out worse over all than a higher rate with lower fee

Sometimes the fee is worth it if it saves you in the long run. We are planning to get it out of the saving account or ISA if we have to.

mortgage rates have gone up ALOT

I surprised you can even find 5.79%, and in the currnet climate that sounds like a great rate worth snapping up!

(My mummy is a mortgage advisor so we discuss these type of things a lot!.... no idea about discount trackers as such but i do know that lots of good mot#rtgage deals / types of mortgage dont exist any more

That fee sounds very reasonable to me - we were offered a deal a couple of months ago and the fee was £8,000!

Many are asking for the fee upfront atm