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How Long Does a Mortgage Offer Last?
Private_and_Confidential
Posts: 147 Forumite
My current deal (5.49% Fixed) with Nationwide ends in June.
Having just looked at their website, I would 'roll-over' to their Base Rate which tracks BoE +2% therefore resulting in a much cheaper mortgage than my current deal. I think that's what I'll do as it'll save me £317 per month.
Obviously, the BoE rate could go up.
Is it possible to secure a Fixed deal with a lender which is valid for a period of time e.g 3 months and use it as insurance should BoE increase.
Thanks in advance.
Having just looked at their website, I would 'roll-over' to their Base Rate which tracks BoE +2% therefore resulting in a much cheaper mortgage than my current deal. I think that's what I'll do as it'll save me £317 per month.
Obviously, the BoE rate could go up.
Is it possible to secure a Fixed deal with a lender which is valid for a period of time e.g 3 months and use it as insurance should BoE increase.
Thanks in advance.
0
Comments
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Yes it is, but the chances are that you would have to pay a booking fee for the fixed rate up front, whether you take it or not.I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Ahh - Good point.
Well I think in the short term I'll go onto thew Base Rate product with Nationwide whilst I shop around for a good, long term, fixed rate.
Cheers !!!0
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