If You Were In My Shoes' - £90000

Sir_Peter

My 5 year fixed martage with Abby will soon end, and I am now starting to look around. I will have an outstanding loan of £90000 and would like to get the best rate for a 2 or 5 year rate.

Things that are important to me are first a low rate. Second as I can work over time now and then would like to be able to put a little more in every now and then. Thirdly as I have just had twins two months ago, the mortage may need to be movalble as we will shortly need a larger home.

Any pointers or advice on what the repayments would be will be read with interest.

Ian_W

Regarding moving house - how shortly is "shortly"?

If it's a very, or quite soon type of "shortly" you really need to consider whether getting the best 2 or 5yr rates, which will usually have redemption penalties for leaving, is the best way to go. Sure your loan will be portable BUT any additional borrowing you need to fund your larger home will be at the whim of the lender. You may end up with a keen rate for the £90K but a cr@p one for the extra you need.

In that situation I'd look for the most competitive rate without any ties and get the best rate possible for your new house [and bigger mortgage] when you move. Abbey's retention rates would be a good starting point then check the comparison sites or use a broker to do it for you.

HTH.