Broker Query

[Bitpipe]

Just now, jack said:

 

... vs remortgaging with another lender after completion.

 

The best rate you can get from Ecology (passive house certified) post completion is 3.4%. If you are SAP A it's 3.19% and SAP B is 4.15%. below that is the SVR of 4.65%

 

First Direct currently have a 1.59% 2 year fix with £490 fees so you'll always be better off going back to high st lenders as soon as you've cleared the redemption period.

 

To be clear, I'm not advocating fiddling the Ecology application system as I highly respect them as a lender and had a great experience. I'm just being clear that you're not contractually committed to achieve the predicted SAP / PHPP (and the associated spend) if it does not make financial sense for you.

[andyr87]

34 minutes ago, Bitpipe said:

 

The best rate you can get from Ecology (passive house certified) post completion is 3.4%. If you are SAP A it's 3.19% and SAP B is 4.15%. below that is the SVR of 4.65%

 

First Direct currently have a 1.59% 2 year fix with £490 fees so you'll always be better off going back to high st lenders as soon as you've cleared the redemption period.

 

To be clear, I'm not advocating fiddling the Ecology application system as I highly respect them as a lender and had a great experience. I'm just being clear that you're not contractually committed to achieve the predicted SAP / PHPP (and the associated spend) if it does not make financial sense for you.

 

Really useful advice, thanks @Bitpipe ?