Could anybody Clarify this for me (Deal ending)

Rhys_2-2

I have a fixed 5.5% deal with C & G ending at the end of February,
my home is valued at around £105.000 to £110.000 and my current mortgage borrowing stands at approx £70.000,

what i wanted to clarify was would I be better reverting to the SVR and continuing paying my current payments in essence overpaying, and take another look when the interest rate starts to rise again or would it be better to fix my rate at a longer term now.

My gut feeling was to run with the SVR for the time being but hey what do i know

any suggestions would be gratefully received

Rhys

wayne1234

hi same thing happened to us in june of last year when ourfixed rate came to an end.When we went to see branch about another fixed rate they said we should do one of there deals now so we would not miss out.Thought we should take a chance on SVR and it was the best thing we did as SVR has plumeted over last 6 months.Will wait a little longer before we take another deal.I suppose it all depends on how much risk you are prepaired to take.As for over paying i think its a good idea as it has knocked years off our mortgage but thats only my oppinion,but remember if you like to know how much your paying each month take the best fixed rate you can find.Hope this helps.