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To fix or not to fix?
Cazzywazzywoo
Posts: 66 Forumite
Our fixed rate of 4.89% has just finished this month and we are now on the SVR of 2.99%. We have reduced the term from 119 months to 99 months by keeping our payments the same as before. :TYippee...
Our income is currently stable and we can afford the current monthly payments. Our mortgage is for £110k and our house is currently worth £220-£240k. We could be prepared to pay a fee of up to £500 or £1000 but we would not want to pay any more than this.
The BOI also offered the following:
3yrs fixed 4.25% £499 fee
5yrs fixed 4.6% £299 fee
5yrs fixed 4.89% no fee
Like everyone else I am slightly uneasy. Early this week when it looked like the best fixed rates were disapearing I was going to fix again - but now given the BoE's announcement yesterday I wonder if I should hold my nerve for now.
What do you think? What would you do in our shoes?
Thank you
Cazzy
Our income is currently stable and we can afford the current monthly payments. Our mortgage is for £110k and our house is currently worth £220-£240k. We could be prepared to pay a fee of up to £500 or £1000 but we would not want to pay any more than this.
The BOI also offered the following:
3yrs fixed 4.25% £499 fee
5yrs fixed 4.6% £299 fee
5yrs fixed 4.89% no fee
Like everyone else I am slightly uneasy. Early this week when it looked like the best fixed rates were disapearing I was going to fix again - but now given the BoE's announcement yesterday I wonder if I should hold my nerve for now.
What do you think? What would you do in our shoes?
Thank you
Cazzy
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