Mortgage - 2 options, what would you do?

alexlyne

Have 2 parts of a mortgage. One Fixed at 5.4% on 80K running out at the end of August 10, the other Fixed 6.2% on 60k running out July 14. With Halifax. LTV is currently 84%

Now, with the large bit running out soon, we have 2 affordable options:
1. Go SVR (3.5%) for a while (maybe try for a 3yr fix next year to bring both parts of mortgage in line)
2. a 2yr Fix at 5.2%, no fees.

AFAIK, I can't have two loans with two lenders on the same property!

Talk of rate rises are now being offset a little by news of double-dip recession, meaning that rises may not happen as soon as expected, and increases will be slow. But what do the 'experts' really know eh?!
But also, Halifax are currently at the better end of SVR rate competition. DOn't wnat to sound cynical, but it makes me think they'll raise it soon.

Cheers
Al

getmore4less

I think I would go with the SVR and overpay the £60k @ 6.2%

But thats me.