Time To Fix

fattony

I know there is never a right time but just after some advice really, been sat on the c&g variable rate for a while now, it came perfect timing for us as wife went on maternity leave so we were a little more comfortable then we anticipated, unfortunately during this time we wern't able to overpay.

Anyway I was looking through a comparison website and found a 5 year fixed from the post office 80% ltv 4.84% and 75% ltv 4.65%

I'm fairly sure I meet 80% ltv but would like to think I meet 75% obviously I'd prefer to pay the 4.65% but would I be jumping to early in fixing now should I wait a little longer?

How long are mortgage offers valid for? if accepted I could stay with c&g for as long as possible and then switch over in a few months.

I could afford it if rates went up say 7-8% before thinking about going interest only bottom line is I dont want to miss the boat with this deal but also dont want to pip to early

CloudCuckooLand

If you can afford 7-8%, why are you not overpaying ?

Maximise overpayments for 6 months. Review deals then.

Regarding house valuation, the likelihood is that it will be lower, not higher, than you hope. The banks are being cautious after the crunch. If recent house price rises continue, that will ease in the time you take to overpay.

Don't taking going onto Interest Only, as a fall-back position, for granted. Lenders are more choosy/stringent.

fattony

I could afford 7-8% once wife is back at work which isn't long now. I'm estimating the value of my house the same as I paid for it back in 2004