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Help - Working out an equivalent rate from 2 seperate products
1978
Posts: 80 Forumite
Morning all, I found out yesterday that part of our mortgage is dropping to +0.99 above BOE base come March (thanks to MSE for prompting me to ring and check), and the other part is dropping to the lenders SVR come May.
This appears to be beyond any shadow of doubt better than any deal i can get at the moment.
My questions are - When rates eventually do change (upwards), I'll be looking to merge both products and get a fixed rate. Is there anywhere where I can work out how much the rate would have to increase for me to consider doing this? I guess as I have two different products, the answer I was looking for could fluctuate over time, but any help would be appreciated.
Also - is there a simple way to work out what rate i'm paying overall, if say i'm paying £30k at 2.49% and £55k at 4.85%?
Many thanks.
This appears to be beyond any shadow of doubt better than any deal i can get at the moment.
My questions are - When rates eventually do change (upwards), I'll be looking to merge both products and get a fixed rate. Is there anywhere where I can work out how much the rate would have to increase for me to consider doing this? I guess as I have two different products, the answer I was looking for could fluctuate over time, but any help would be appreciated.
Also - is there a simple way to work out what rate i'm paying overall, if say i'm paying £30k at 2.49% and £55k at 4.85%?
Many thanks.
0
Comments
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4.017%............Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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calculated by ( so you can do own sums when it changes)
30/85 X 2.49
+
55/85 X 4.85Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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