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To fix or not to fix
buggsbunny
Posts: 16 Forumite
Hi all,
has anyone some adivise for me?
I was on a fix 5.74% £580 a month
now on BMR at 2.5% £380 a month
still owe 104,000 on mortgage house is valued at 101,000!!!!!!!!!!
so stuck with nationwide
mortgage advisor says he can get us a fix at about 5.something% for a fee of £250!!!
but the £200 a month we are saving is helping get our finances in order and we will hopefully be able to start overpaying the mortgage soon so we can get th LTV down, but just dont know if we got the nerve to just sit n hope the interest rates dont go up.
Any advise greatfully accepted, thanx
has anyone some adivise for me?
I was on a fix 5.74% £580 a month
now on BMR at 2.5% £380 a month
still owe 104,000 on mortgage house is valued at 101,000!!!!!!!!!!
so stuck with nationwide
mortgage advisor says he can get us a fix at about 5.something% for a fee of £250!!!
but the £200 a month we are saving is helping get our finances in order and we will hopefully be able to start overpaying the mortgage soon so we can get th LTV down, but just dont know if we got the nerve to just sit n hope the interest rates dont go up.
Any advise greatfully accepted, thanx
0
Comments
-
I'd stick on the 2.5% rate if I were you.
Nationwide are desperate to get borrowers off of it.... which tells you how good it is.
Try to overpay while it's low though. Can't see rates going up again for a whileI am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Stay on the variable and overpay while staying poised to get a fix if it looks like rates are going to rise is your best bet.0
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