mortgage help please

henriettahaha

I have a mortgage with the Nationwide over 10 years, fixed for the first 5 at 4.65. My five years are up this year and I believe the rate goes back to theN.wide ordinary rates. Any advice about what to do next? The residue is under 50,000 and I fixed it because it helped to know how much was going out each month.

CloudCuckooLand

henriettahaha wrote: »

I fixed it because it helped to know how much was going out each month.

Fix again?

herbiesjp

henriettahaha wrote: »

I fixed it because it helped to know how much was going out each month.

If that is your priority then fixing again is the only option.

Find out what Nationwide will offer first, then see what else is on the market.

At that mortgage amount be wary of going for headline rates with higher fees - it could work out more cost effective for you to go for slightly higher rates, with lower or no fees at all.

luckyfool

You will revert to Nationwides B.M.R at 2.50%.

If you are comfortable now with your rate being variable then sit tight, if you want to fix again then you should be getting quotes for another 5 yr fix from Nationwide and also on the open market for a deal that will take you up to final repayment of your mortgage in 5 years.