mortgage coming to end of fixed rate

basil1998

my fixed rate mortgage is coming to end of july .it will go on to the varible if i do nothing . can i go on varible rate if it is cheaper then if 4 months down the road it goes up can i switched to a fixed morgage

Cannon_Fodder

Yes you can.

Trouble is by the time SVR goes up, the Fixed deal will already have that priced in and not be as cheap as now/July.

natman

If your fix rate is coming to an end in summer, your right to think about some action now.

Many will probably go onto the SVR that their bank or building society offer, and in the short term that may be lower than the fix.

Interest rates will go up at some time, and some economist beleive that rises may happen this year.
It may be worth considering contacting your mortgage company and discussing the options first - i.e going on another deal or discussing SVR then swopping on to another deal.

When you are out of your fixed period this does have benefits as you could hopefully quite freely move elsewere too.

But in answer to your question -
Going on SVR may be a good option today, but in Summer wil it ?( it probably will be, but be careful not to miss deals)
You should be able to switch afer a few months if you needed, but you would need to check with your institution as you may have to pay fees, new valuation etc etc, but also at that point it would be worth considering to get quotes / comparisons from other banks.

It may also be worth you contacting now - Mortgage Monitor
http://www.mortgagemonitor.co.uk/

I have not used them personally but know friends who have. You tell them your details and they try and find you a great deal,may be worth you having a look.