Mortgage rates

mummytwinton

hi looking at changing our mortgage from virgin one to Alliance & leicester. going from 5.6% to 4.4 used to pay 670 + 175 loan to paying 617 all in.

what have mortgage rates been like ??? is 4.4 good are mortgages rates going up or down??:rolleyes:

tomstickland

A month or so back there were 4.29% fixed rates available, the best I could do 3 weeks ago was a 4.39% fix, so your 4.4% rate is pretty good.

stanmoresaver

mummytwinton wrote:

hi looking at changing our mortgage from virgin one to Alliance & leicester. going from 5.6% to 4.4 used to pay 670 + 175 loan to paying 617 all in.

what have mortgage rates been like ??? is 4.4 good are mortgages rates going up or down??:rolleyes:

Did you ask the mortgage consultant you refered to in your other post his feelings- sometimes it's good to ask a professional his opinion and trust it.

SS

mummytwinton

he lost interest when i said we wouldn't sign there & then i wanted more time to look into things

roswell

You do realise then that you are securing your debts in your new morgage against your home and over 20 or more years which could work out more costly in the long run.

Joe_Bloggs

@Mummytwinton
There is no need to rush in to things or feel under pressure. The lowest rates quoted by many last for two years, or less, and then become garbage (SVR) .These rates, if you could escape from them, would then prompt you to begin the remortgage cycle again !
Get a good deal, study the terms and conditions, at your leasure, in your own time, consider the things you have not had time to think about. Then make sure the numbers make sense.
J_B.

lilyann1

We're opting for a 3 year fixed as a 2 year one would fly by and then you'd have to pay lending fees all over again.
We were going to change lenders from C&G to Nationwide,but Nationwide have just put up their rate I think and C&G have just reduced theirs.
Also if we stay with our current lender we haven't got to go through all the stuff like new references for the new lender.
The IFA we had come round to give us quotes also suggested we wait until next Thursday as rates might come down further before the election,does anybody else think this??? We don't want to rush into this new mortgage if the rates are going to come down further but we need to get things moving too as we don't want to hold up the chain.