Fixed Rate or not Fixed Rate

Me_&_the_Dog

Hi Guys,

I'm new to this soz, but im after a little advice.

My current mortgage is in three the bits. (all with the C & G)

The original morgage of £47'016.98 (26yrs) (5.89% Fixed till June 08)
a remortgage of £20'600.22 (26yrs) (5.89% Fixed till June 08)
then another remortage of £25'642.96

The last remortage is now up for renewal and i'm not sure what my options are. I understand that i'm not allowed to move this loan without moving the others which would be quite expensive.

The C & G are offering to lend me another £9k, but this would be on a variable rate. I could really do with the cash, but as they are only offering this on a variable rate I'm not sure as I'm not comfortable with the uncertainty.

So thay have offered to remortgage the £26'642.96 at a fixed rate of 5.44% for the two years which means it will run out about the same time as the other bits, then i am assuming that i will be able to move.

Am i right to be scared of the variable rate as i could do with the £9K to pay off a cc which is at a much higher rate!

Am I going in the right direction with this or do i have other options?

Thanks in advance


Me & The Dog

:rolleyes: