Jumping too early?

or8it

Ok, here's my situation.

Currently I've got a fixed rate with The Nottinghamshire BS @ 5.19% which ends in August this year. I will have a balance of £100,000 on a property that was valued at £275,000 (5 years ago at start of mortgage). Obviously the value will of dropped but I am confident that any valuation carried out now will give me a reasonably low LTV.

Looking at the offers available today I'm sorely tempted to take advantage of A&L 5yr fixed @ 3.99% I don't intend pulling out of my current mortgage with only 4 months left but instead just 'book' the A&L one to start in August when my current deal ends. I've been to A&L and have an appointment now for next week to discuss their mortgage offers. While I was in their branch today I opened a Premier Direct Current Account just in case as it will be a requirement for the mortgage.

Now, does anyone think I may be jumping the gun a little early? The A&L mortgage currently runs until 30/06/14 so it wouldn't be exactly 5 years but I'd only be losing out on 2 months.

There seems much speculation on fixed rates dropping or not and with 4 months left on my current mortgage am I being too hasty?

Appreciate any thoughts.

rexemper

We're in a similar position - fixed rate with Abbey ends early Aug (5.19%) and we were looking at the First Direct 2 year fixed at 2.99% and overpaying and then seeing what rates were like in 18 months OR looking at a 5 year deal and being fixed in for longer....can't really decide...