Time to Fix Long Term?

haguiera

Hey guys,

I know ultimatley its my decision but i do so enjoy reading the opinions you all give to fellow users that i'd like to ask a question myself!

My 5.79% 2yr fixed with A&L ended last month and I have reverted to their SVR on 4.99% I'm now tempted to get on a 5yr Fixed @ 4.15% with the PostOffice.

Does anyone think this is a good idea or should i over-pay on the SVR while waiting to see if FixedRates fall any further? I currently have an LTV of about 69%.

thanks in advance, MatthewHaguilera.

dannykos

cheapest 5yr fix is currently 3.95 with Abbey, or 3.99 with Chelsea BS - £995 fees for both. Might want to consider those too

whu

haguiera wrote: »

Hey guys,

I know ultimatley its my decision but i do so enjoy reading the opinions you all give to fellow users that i'd like to ask a question myself!

My 5.79% 2yr fixed with A&L ended last month and I have reverted to their SVR on 4.99% I'm now tempted to get on a 5yr Fixed @ 4.15% with the PostOffice.

Does anyone think this is a good idea or should i over-pay on the SVR while waiting to see if FixedRates fall any further? I currently have an LTV of about 69%.

thanks in advance, MatthewHaguilera.

With your LTV it might be worth looking around to see if there are any better deals - if not IMO the Post Office isn't bad but have a look at the deals mentioned by Dannykos to see if you qualify - you also need to take intoaccount any fees payable - what are they for the Post Office deal?

cbrpaul

Chelsea 5 year deal now @4.69% 65% ltv no fees http://www.thechelsea.co.uk/mortgages/eb_product_004.html

Abbey 5 year deal 3.95% £995 fees not added to mortgage 60% ltv

Post office 5 yer deal 4.15% £599 fees 75% ltv

cbrpaul

I would say the post office is very good !!!

AntiLochus

cbrpaul wrote: »

Chelsea 5 year deal now @4.69% 65% ltv no fees http://www.thechelsea.co.uk/mortgages/eb_product_004.html

Abbey 5 year deal 3.95% £995 fees not added to mortgage 60% ltv

Post office 5 yer deal 4.15% £599 fees 75% ltv

Also:

HSBC 5yr fixed 3.99% £999 fees (max 20% of monthly amount to overpay)

However, interesting article from the Times on fixed rates over the coming months:

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5863995.ece

haguiera

cheers all,

yeah i agree with u paul, just cant decided whether to bite the bullet and jump on it now or try and get my LTV down to 60% while staying with A&L and hoping Fixes dont suddenly start to rocket!

cbrpaul

Taken from AntiLochus link !!!

Ray Boulger
Boulger, technical director at John Charcol, the broker, said borrowers with equity of 40% or more should wait for rates to fall further before locking in for the long term.

He expects long-term fixed-rate deals will come down to 3.5% later this year.

haguiera

yep, just read it myself, thanks Anti. As i was reading it i thought "this is just what i needed to hear" then towards the end of the article there is another "expert" on there predicting the opposite! Arghh!!!

foreversummer

The full article is here

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5863995.ece?token=null&offset=0&page=1

AntiLochus

The following site collates news articles (has a section for Mortgages and Property):

http://www.creditcrunch.co.uk/newsfinder/index.html

This is where I saw the original article link