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Should I Ditch my Fix

paulo1888
paulo1888 Posts: 137 Forumite
Part of the Furniture 100 Posts Combo Breaker
edited 26 January 2012 at 7:36PM in Mortgages & endowments
Hi

I have a Mortgage with the Alliance & Leicester and was wondering if it would be worthwhile switching to their 3.95% 5 yr fixed rate.

Comments

  • Peelerfart
    Peelerfart Posts: 2,177 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I think you've answered your own question ,

    If you need at least 3.5% to save and your after A&L at 3.95% then you ain't gonna save.

    as to what the rates are going to be in 2012 or 2014 then it's time to whip my crystal one out
    Space available for rent
  • paulo1888
    paulo1888 Posts: 137 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    If the 3.95% ended in July 2012 there would be no point in remortgaging. But the fact it ends in July 2014 still leaves me unsure as to whether it may be worthwhile. The MSE Calculator doesn't allow for this scenario.
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