Fixed rate ending in July - advice needed pls

LippyLee

Hi everyone

This is my first post....although i have been lurking for a few months....so please go easy on me.

I am currently on a fixed rate with Abbey at 5.34% which comes to end in July. LTV approx 70% (hopefully!!!) 20 yrs left remaining.

I was just wondering if i should start shopping around yet or leave it for a couple of months?
Also is it worth going on a low fixed for 2 yrs (First direct have one at 2.99%) and dropping the term to overpay or go on say a 5yr fixed for long term security...they all seem to be less than we are paying at the momont, so would like to overpay or reduce the length.

Any advice would be appreciated

Robert_Sterling_3

Overpay. The only sane option in my opinion. :T :j :T

peas

We are on the same deal as you ending in August. I'm currently thinking of just dropping to the Abbey's SVR currently 4.69% and dropping the term at the same time. But also keeping a close eye on interest rates to get a fixed deal before the rates rise too quickly. It also saves paying out extra set up fees for a while.
However if things change dramatically in the next couple of months I will look to secure a decent fixed rate.