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2 year or 3 year fixed?
badboy13
Posts: 68 Forumite
Coming to the end of our 2 year fix with Nationwide which was at 6.45%, have about £129,000 left on mortgage and house is worth about £150,000.
L&C say can't really get decent mortgage anywhere else due to high LTV, say best to stick with nationwide, noticed they have 2 year fixed 3.58% (£495 fee) & 3.78% (no fee) and 3 year fixed 4.28% (£495) & 4.48% (no fee).
Is it best to go with the 2 year or 3 year?
Also we have about £3500 on credit card, was looking at adding that to mortgage but seems interest rate would then be around 6.94%. I take it better to go with lower rate and pay the credit card (most on 0% till Feb) monthly with the money saved from lower monthly payments?
L&C say can't really get decent mortgage anywhere else due to high LTV, say best to stick with nationwide, noticed they have 2 year fixed 3.58% (£495 fee) & 3.78% (no fee) and 3 year fixed 4.28% (£495) & 4.48% (no fee).
Is it best to go with the 2 year or 3 year?
Also we have about £3500 on credit card, was looking at adding that to mortgage but seems interest rate would then be around 6.94%. I take it better to go with lower rate and pay the credit card (most on 0% till Feb) monthly with the money saved from lower monthly payments?
0
Comments
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check the follow on rate with NW.. is it currently 2.5% , whereas if taking a new deal it will be higher ( but will give initail security of fixed rate )
http://www.guardian.co.uk/money/2009/may/02/mortgages-nationwide-two-tier-systemAny posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0 -
So what are peoples views on going on the 2.5% variable rate, when is it likely to go up? once it starts going up will I then be able to get a decent fixed rate or will they shoot up?0
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