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What will happen to mortgage rates in next 6 months?

LYT_2
Posts: 37 Forumite

Hello
I currently have my mortgage with A&L (tracker at 2.79% that will revert to 4.99% in November). I have spoken to them about what deal I could get from November and the best deal they gave me is 3.29% (tracker again) for 2 years.
So I have 2 options:
- Go with the 3.29% rate now and take the risk that they have better deals coming up in the next few months.
- Wait to see if there is a better deal coming up before November and take the risk that the rates actually go worse.
What is the general feeling: remortgage as soon as possible as the rates cannot stay so good or wait a few months as there are still competitive rates to be released?
Thanks a lot
LYT
I currently have my mortgage with A&L (tracker at 2.79% that will revert to 4.99% in November). I have spoken to them about what deal I could get from November and the best deal they gave me is 3.29% (tracker again) for 2 years.
So I have 2 options:
- Go with the 3.29% rate now and take the risk that they have better deals coming up in the next few months.
- Wait to see if there is a better deal coming up before November and take the risk that the rates actually go worse.
What is the general feeling: remortgage as soon as possible as the rates cannot stay so good or wait a few months as there are still competitive rates to be released?
Thanks a lot
LYT
0
Comments
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Its all opinions - If someone knew then we would all know what direction to turn.
My opinion is that rates will not get any better . I would go for the 3.29% rate now. Its not going to drop below 3% infact its going to rise. (My opinion).
If there is a good rate now Grab it whilst u can, otherwise your playing a mine field.0 -
Not even the Governer of the BOE knows for certian what interest rates will be in 6 months time."You were only supposed to blow the bl**dy doors off!!"0
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This is exactly what I needed: OPINIONS. I know no-one can know what will happen but I know that some people are much more aware of all those things than me! So thanks!
LYT0 -
I cant imagine a circumstance where rates would drop from where they are now, lending rates have risen over the last 4 months - my guess is they will be higher in November than they are now.0
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how would you cope if rates went up and you hadn't acted beforehand?
Rates are ticking upwards slightly for mortgages and if profitability for Retail Banking will remain difficult then competition will be muted between those still offering mortgage lending so no real incentive to want to get to the top of the mortgage tables unless the deals are on very good LTV ratios (ie 60%) and higher fees.0 -
Held @ 0.5% until General Election.Space available for rent0
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Peelerfart wrote: »Held @ 0.5% until General Election.
I agree with this; however quantative easing is known to raise inflation and would therefore push interest rates up. I would fix again as the interest rate is not much above what you are paying now. Just my opinion tho...
What can you get for five years??£5k+ since Jul 2008.0 -
I didn't ask for 5 years but that's a good point, I'll call back.0
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It all depends whether the gormless government is going to get its digit out and bash lenders' heads together... and it won't do so unless we have some high-profile baracking.
Mortgage rates in the form of SVRs and fixed rates are nothing short of a scandal currently.
Unfortunately, Martin Lewis has said that he does not intend to champion the consumers' cause on this greatest of all consumer rip-offs at the moment, which I find sad.
Anybody got Joanna Lumley's or Esther Rantzen's phone numbers..?0 -
Peelerfart wrote: »Held @ 0.5% until General Election.
Thats the rate at which banks borrow money, not consumers!0
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