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What should I do at the End of my Fixed Rate Mortgage?
TheManCalledDan
Posts: 5 Forumite
Any help would be much appreciated!
I currently have a 2 year fixed rate 95% LTV mortgage. This deal is due to end in the next few months and I'm just wondering what I should do. I currently do not have any capital to invest so I'm concerned as to what will happen when my fixed rate ends. Will it be OK to just go onto my lenders SVR at 95% LTV as it would seem there are no decent deals around anymore for such a high LTV?
Thanks! dTm.
I currently have a 2 year fixed rate 95% LTV mortgage. This deal is due to end in the next few months and I'm just wondering what I should do. I currently do not have any capital to invest so I'm concerned as to what will happen when my fixed rate ends. Will it be OK to just go onto my lenders SVR at 95% LTV as it would seem there are no decent deals around anymore for such a high LTV?
Thanks! dTm.
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Comments
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Going onto your current lender's SVR looks the best option, especially if they are one of those that have been passing on the cutsI am a Mortgage adviserYou 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.0
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What is the current LTV. It could well be higher than 95%.
Chances are you will have little option but to go on the lender's SVR or take any other deal they might offer you.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Thanks very much for your advice. I thought that was probably the best option.0
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