Fixed Rate ending soon.

BijouDrains

My 3 year fixed rate with Mortgage Express is ending next month. I have been trying to find out what my new rate will be. Can anyone help? Thanks.

opinions4u

Ring them up.

Or read your original paperwork.

This lot issued a lot of funds where the go to rate after a fix was a low margin BofE tracker.

You may be in for a big drop in payment. Use it wisely if that's the case.

BijouDrains

Thanks. Closed today, I just thought I maybe could find something on the web. I can't seem to find anything in the original paperwork, but then again I get bored after 2 paragraphs :undecided

opinions4u

BijouDrains wrote: »

Thanks. Closed today, I just thought I maybe could find something on the web. I can't seem to find anything in the original paperwork, but then again I get bored after 2 paragraphs :undecided

While they doubtless have a standard variable rate, and I'd guess that it's around 5%, Mortgage Express had a habit of offering rates that moved on to a llife time tracker at the end of the initial deal.

The margin on the trackers varied from time to time, so what's on your deal will be different to what's on another man's deal.

Without the boring paperwork (which is actually vital if you ever have a dispute with them) a phone call is your best option. As they are now state owned, enjoy the music while you're in the call queue!

Gorgeous_George

Hi

This thread (link) sounds similar but it was 18 months ago. If your mortgage is similar it sounds like you could be in for a pleasant surprise and your repayments may drop. If so, do not change anything unless you ae sure you understand what you would be giving up.

This one (link) reverted to a rate linked to LIBOR.

You can search the forums for 'Mortgage Express' and trawl through similar threads but the right answer will only come from your lender. Don't let them confuse you as they may try to convince you to change your mortgage. You just want to know what your mortgage reverts to when the fixed term ends.

GG

murtagh10

Hi new to this so bear with me -

I also have a 5 yr deal coming to an end with ME 30/03/11 - My paperwork says I will revert to a variable rate (which in 2006) was 'and I quote currently 6.24%'

- However I can not see if teh Variable rate was linked to BOE rate which i am picking up from other websites

- anyone know what ME are offering as an SVR -
I Know they are offering to waive ERCs so that people can reapy loan etc and not dong any new loans, but just want to see if anybody has actaully allowed their fxxed term to end and what SVR they have been moved on to .

Yes I will ring them also - just wondered what ammo I might have

thanks

originalmiscellany

murtagh10, I know it's a similar post, but in order to get a better response, you should copy and paste this into a new thread, you're in the right part of the forum, but dovetailing this onto another persons post won't get you a prompt outcome!

koexelek

BijouDrains wrote: »

Thanks. Closed today, I just thought I maybe could find something on the web. I can't seem to find anything in the original paperwork, but then again I get bored after 2 paragraphs :undecided

When you can't find any reference to a lenders standard variable rate, it is usually a good sign.
Means that it is very good, and they don't want people going on it :cool:

I though ( but don't quote me on this ) their svr was somewhere around 2.5% now