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Hi,
Will anyone divulge what interest rate they got from CAM bank for taking the builders mortgage?
Just had my binding offer through and the rate is now 6.418%. (Eurobor + 1%) This is reviewed 6 monthly. It was 5.75% when I had my quotes through.
Aware that there has been one increase of 0.25% from the European Central Bank on the 9th July. Not sure how or if this relates to mortgage rates.
Phil
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Phil
Apt: J310
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Hi Phil
Mine was 6.00% ( euribor + 1.00) mine was also 5.75 when quotes came through 1st time but time they approved it was at 6.00, Not sure why its gone up as like you said last rise was early July
Carol
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 Never regret the things you've done...Just the things you aint !! 
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Well apparently the euribor for borrowing is hgher ....oh so it seems with the banks - I am totally confused too
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Never regret the things you've done...Just the things you aint !!
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The below is from the ECB website. It seems the 4.25% is the headline rate but our mortgages will all be based on the 5.25% rate. So with a +1% look for a reset to 6.25% soon. I guess this still compares favourably to the UK market.
Key figures at a glance
Effective from 9 July 2008
Marginal lending facility 5.25 %
Minimum bid rate 4.25 %
Deposit facility 3.25 %
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HI,
Like Carol, we got our original quote from cam as euribor +1%, which was 5.75%. By the time things were sorted it had gone to 6%. Wasn't happy but Cam wouldn't budge. Congratulations to Phil and Deb and Phil and Helen on completions.
Chris and Tracey.
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Chris and Tracey
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Just received an e-mail from CAM with official offer today stating following :-
Initial interest: 6.461%
1st revision of the interest: 6 months after completion date taking into consideration EURIBOR + 1 %
CAM fees: 0,75% (615,60EUR)
Redemption fee: 0,5 % for any amount for the first 5 years and 0,25% from the 6th year on.
Seems to be pretty much the standard fare from the original proposal, but can anyone tell me why we all seem to have slightly different interest rates ?
Also, how do you interpret the 6 months revision statement - does this mean any % changes either way in the mean time will not be adjusted until 6 months are up ?
I think 'taking into consideration EURIBOR + 1%' means that the rate we start with (6.461 in this case) just stays relative to any interes rate movements in UIRIBOR up or down. Am I reading this right ?
Cheers,
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Will
( & Jackie if it's not controversial !!  ).
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It stays at the int rate your approval states for the 1st 6mths whether euribor changes or not. Then it will be revised to whatever euribor is at that time + 1% and it stays that way for a year and then revised again.
HTH
Carol
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Never regret the things you've done...Just the things you aint !!
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