Mortgage advice, end of fixed rate soon.

Viz_2

My mortgage has been with Halifax since buying my first home. My current 2 year fixed rate of 5.89% will end in September this year.
My home is valued at around £180,000 and I will have about £152,000 left to pay.
As the best deals of new fixed rates will probably still require a LTV of 60% in Sept, I'm probably going to stay with Halifax on their SVR of 3.5% (at the moment). Is this my best option ? I'm assuming there are no hidden fees to naturally run onto the SVR ?

t the moment any fixed rates with 80% LTV are looking higher than what I already pay !

All opinions welcome.....

beecher

To early to really say as you've still go 6 months til the end of your deal. Keep an eye on
http://www.halifax.co.uk/mortgages/newdeal.asp

and see what's available nearer the time. Your LTV might be a bit higher by then as prices continue to fall.

There are no hidden fees in going onto the SVR - I've been on Halifax's since the end of last year.

Robert_Sterling_3

Quite a lot can happen between now and september but noo fee and a low svr look promising at present.

dimbo61

If you do go onto the SVR then overpay your mortgage by at least the money you are then savings with the new lower SVR rate.
Your mortgage should drop by about £200 a month so overpay each month!

Viz_2

My plans will stay the same assuming not much changes in the next few months. I also plan to overpay dimbo, probably on a direct debit of at least £50, then add more if I can.
Once the base rate starts to go up I will look into getting a fixed rate again.

Thanks.

dimbo61

If you want to get a good rate in the future then overpay by £250 a month not £50!
Its a debt at the end of the day and the sooner its paid off the less interest you pay for your HOME ( not just an investment! )