Fixed mortgage coming to end

Dungirl

Hi,

My fixed rate mortgage with RBS is coming to an end soon and I am wondering whether I should remortgage or just stay put!
My outstanding balance is 22800 and I would like to pay this off in a maximum of 4 years (will be 60 then!). At present I am paying 480 a month and can't afford to pay anymore than this.

Any help would be greatly appreciated.

Dungirl

tardelli

I hope u get a good reply to this. I'm in a similiar predicament. 23000 outstanding with 3 years to run. A mortgage broker advised me to go with the 3.5% current rate but someone else advised me to take the fixed rate offered @4.29 by the HBOS for 2 years.

herbiesjp

With such a low mortgage amount you are normally better to stay put.

Unless less you can find a deal that allows you to move onto a low rates, with no fees at all (don't forget fee to leave current lender)

Boozer

Can i ask what rate you have been getting and what rate you are going to be on after the fixed rate is over??

I took a fixed for 3 years at 5.7%, and it runs out in April next year, i was not really thinking about the future at that time and just wanted to own something, i recently wondered what rate i would get after this fixed period and when i phoned i was plesently surprised to hear 1.75% above BOE base rate, so for me as long as interest rates stay below 4% i am going to save money when the time comes.

But i think with such a low balance left and the fees involved it is probably not worth switching.

owlface

Looking for good advice!! Mortgage is with Halifax My fixed rate of 5.49 is coming to an end, Halifax keen for me to go in and discuss my rate as its now 3.5%. Should i go in an fix rate as low as possible or stick with the 3.5% but this carries a risk in case bank of England raise interest rates anytime soon- any thoughts?? Thanks

Dungirl

Just a quick thank you for all advice.
I had thought it was probably not worth switching now I am pretyy sure it isn't!

Dungirl

aanguralla

Hi,

Looking for advice - I have a fixed rate mortgage with Britannia Building Society of £38,000 at 5.69. Rate is coming to an end in April 2010. I am unemployed at present and will be 60 in Nov 2010. Any advice please.