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fixed rate ending....what now?
carol24
Posts: 4 Newbie
Hi,
I have just come to the end of a fixed rate with Northern Rock. At the time of taking out the mortgage I had £1000 "help with setup" offer, which was to be paid back only if I didn't take out another mortgage deal within 3 1/2 years. This means, I have to stay at the variable rate until Feb 2011 so that I do not have to pay the £1000 back. However, they are offering me fixed rate deals at the moment, with the £1000 added on to my mortgage (currently 31,500).
Do you think I should take the risk of hanging it out until Feb 2011?
Carol
I have just come to the end of a fixed rate with Northern Rock. At the time of taking out the mortgage I had £1000 "help with setup" offer, which was to be paid back only if I didn't take out another mortgage deal within 3 1/2 years. This means, I have to stay at the variable rate until Feb 2011 so that I do not have to pay the £1000 back. However, they are offering me fixed rate deals at the moment, with the £1000 added on to my mortgage (currently 31,500).
Do you think I should take the risk of hanging it out until Feb 2011?
Carol
0
Comments
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I was in a similar position to you Carol, with my help with costs due to expire in 18 months time of £700.00. Because NR at the time (i'm going back a few weeks now) were no able to offer me a new deal as an existing customer I've decided to move to HSBC match rater deal where i will be paying 4.35% on a 5 year fixed deal with a booking fee of £599. For my circumstances I wanted a secure rate as I've only got 12 yrs of mortgage remaining, not sure if this info helps but good luck with whatever you decide.0
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