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Short term direction for Liable Rate for Fixed term mortgages???
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STARYDYNAMO
Posts: 3 Newbie
Hi all,
I am stuck into my mortgage at the moment owing 93% of my property due to putting a 5% deposit down originally 2 years ago. This basically traps me into RBS into the fixed term rate for 2 years at 6.64%. (fee £999)
I was originally offered 6.25% and was shocked to find out when the BOE cut interest rates this resulted in fixed term rates going up not down! (calculated from the liable rate).
Does anyone have any ideas if fixed term mortgages are going to go up or any other mortgage borrower that may offer me a better deal? Should I just take the offer and cut my losses?
I am stuck into my mortgage at the moment owing 93% of my property due to putting a 5% deposit down originally 2 years ago. This basically traps me into RBS into the fixed term rate for 2 years at 6.64%. (fee £999)
I was originally offered 6.25% and was shocked to find out when the BOE cut interest rates this resulted in fixed term rates going up not down! (calculated from the liable rate).
Does anyone have any ideas if fixed term mortgages are going to go up or any other mortgage borrower that may offer me a better deal? Should I just take the offer and cut my losses?
0
Comments
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its the LIBOR rate."enough is a feast"...old Buddist proverb0
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