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What to do I'm coming off Fixed rate

reset_2
reset_2 Posts: 4 Newbie
in Mortgages & endowments
Hi all i'm coming off my fixed rate and will have my payments on standard variable which is a decrease of 1.44% which i am happy about but what should i do for future years???

will the rate go up this year etc??
«1

Comments

  • beecher
    beecher Posts: 2,497 Forumite
    Who knows is the short answer.

    What's your outstanding mortgage and a realistic valuation of your property? If you're close to one of the margins - ie just under 75% or 90% then you might be best fixing now before house prices go down further.
  • Peelerfart
    Peelerfart Posts: 2,177 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    "will the rate go up this year ?"

    Now isn't that a good question ! any takers ???
    Space available for rent
  • Euphoria1z
    Euphoria1z Posts: 952 Forumite
    Peelerfart wrote: »
    "will the rate go up this year ?"

    Now isn't that a good question ! any takers ???


    i personally think were safe for this current year but rates will go up come 2010. i cant see them upping the rates this soon as theyve only just cut them. This is my personal opinion of course.
  • Valli
    Valli Posts: 25,587 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Hang on a minute while I get my crystal ball out...
    Don't put it DOWN; put it AWAY
    "I would like more sisters, that the taking out of one, might not leave such stillness" Emily Dickinson
    :heart:Janice 1964-2016:heart:

    Thank you Honey Bear
  • lowis
    lowis Posts: 1,952 Forumite
    1,000 Posts Combo Breaker
    my tea leaves are telling me they are going to go up


    ...or down


    not sure...

    :)
  • koexelek
    koexelek Posts: 7,847 Forumite
    beecher wrote: »
    Who knows is the short answer.

    What's your outstanding mortgage and a realistic valuation of your property? If you're close to one of the margins - ie just under 75% or 90% then you might be best fixing now before house prices go down further.

    A decent fixed rate at less than 75% might be worth considering, but the fixed rates on offer at just below 90% at the moment are pretty garbage.
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Flylady_Flower
    Flylady_Flower Posts: 2,855 Forumite
    1,000 Posts Combo Breaker
    Valli wrote: »
    Hang on a minute while I get my crystal ball out...

    Is it a shiny crystal ball? Hope so, as you are obviously bored at the moment, if not I expect to see it all shiny next time I speak to you... ;) :rotfl: :rotfl:
    LBM April 2013 - £29,000.00
    Vanquis CC's PAID - Debenhams SC PAID - A+L OD PAID - Asda CC £783.75
    Barclaycard CC £1400.78 - BoS CC PAID - Freemans Cat PAID
    F/D Loan & CC £1458.96 - Santander Loan PAID - Mum Loan PAID
    RBS OD PAID - F/D OD £1026.52
    Weekly Grocery Challenge - £95.00 budget / spend £-
  • Valli
    Valli Posts: 25,587 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Of course - am dazzled by the glow:cool:
    Don't put it DOWN; put it AWAY
    "I would like more sisters, that the taking out of one, might not leave such stillness" Emily Dickinson
    :heart:Janice 1964-2016:heart:

    Thank you Honey Bear
  • greenbee
    greenbee Posts: 18,193 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Valli wrote: »
    Of course - am dazzled by the glow:cool:


    It's all very well it being shiny, but you've just admitted that it doesn't work :p
  • Euphoria1z
    Euphoria1z Posts: 952 Forumite
    what happens to interest rates should we go into a depression?
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