Help! Remortgaging and not sure if we should pay out for fixed rate.

Gray_m

Hiya Cannon Fodder,

Thank you for your ideas... it really does help. So i'm right in thinking that we should be aiming to overpay by £250 a month to make some headway with our mortgage in our surrant situation. That gives us something to aim for...... reading some of the other boards, there has been a few suggestions that intrest rates would go down to 0.25% do you think this is something that could happen?

Cannon_Fodder

I doubt rates will drop any further. I don't see that its necessary. The BoE/Chancellor have all the pieces in place with QE chugging along...

Unfortunately, it doesn't particularly matter what the base rate is anyway, as the banks are maintaining a large margin between that and the actual mortgage rate that you pay.

Maybe not until the election, but rates are more likely to rise, if anything, imo.