Halifax fixed rate or SVR

abub007

I am coming off a fixed rate with halifax in September, my LTV is around 85%. Halifax can give me 4.99 fixed for 3 years or 4.89% fixed for 2 years.

Is it better to go on SVR at 3.5% and see if fixed rates come down in the next 9 months or so as forecasts show BOE base rate will not increase much in the next year so SVR should be fairly low.??

Any advice would be great or even better a lower fixed rate.

_Andy_

Hi & welcome to MSE.

This has been discussed numerous times, if you do a search for 'SVR or fixed' or similar you will find previous discussions and opinions.

SelbyJay_2

I dont think fixed rates are likely to come down any time soon.

I was in the same position two years ago. I'm glad i went onto the SVR, as intersest rates fell lower, my mortgages payments reduced. They're now £100 a month less than they were before.

Why dont you go on to the SVR and make overpayments up to the amount that the fixed mortgage would be? If you can afford that level of payment, you might as well over pay.