Made reundant = time to Fix mortgage?

keel

Hi any advice would be appreciated...

I am about to be made redundant, and need to act fast if I want to fix my mortgage rate.

I have a mortgage with Nationwide, It has past the fixed period rate and it is now capped at .2% above the BOE base rate, a deal they no longer offer so very low at the moment.

It also lets me over pay, take payment break and, if I make over payment can borrow the same back.

If I fix now, it works out I will pay more per month, but
seeing as I have lost my job it will be harder for me in a few months time to get a decent rate because of the loss of my job.

Cant decide to fix or not, the mortgage rates may stay low for some time yet, then again...

Thanks for reading!

Peelerfart

keel - be honest and tell your lender.

If you do not tell them it may come back and bite you very hard

as with all things here - in my honest opinion.

Charlton_Taz

I think what Peelerfart is trying to say is that if you are going to take another deal with Nationwide it is v likely that they will ask you about your employment / salary details which if you are saying that you going to be or are redundant will mean that they decline you. Obviously if they don't ask...then great.....but if they do, then unfortunately it is unlikely that they will give you a new deal.