Fixed rate mortgage coming to an end?

loopy013

Hi guys,

I'm a first time buyer and my current 5 year fixed rate is coming to an end in 6 months time. Should I start looking for a deal yet? Can you fix it 6 months in advance?

I'm not sure what's the best to do?

Thanks

sdd7677

sailing in the same boat !! My 3 year fix ending in 5 months time but I can not get good rate as I haven't got 60% LTV. Thinking of putting down some money towards mortgage and getting LTV around 60% to get better deal. The only best deal I can see is 5 year fix for 3.98% from HSBC

loopy013

Hi we haven't got 60% LTV either! I remember watching Martin on a TV show a while ago and I'm sure it mentioned shopping about for a new mortgage about 6 months before it expires? I'm a little anxious as I don't want the rates to go up! When I fixed 5 years ago it was pretty high but we wanted security so 3.98% sounds good to me!

beecher2

loopy - what is your LTV? What is your follow on rate, ie what rate would your mortgage go onto if you did nothing. How's your credit file, affordability, and what's your attitude to risk - do you want to fix, or woudl you be happy on the SVR.

Maybe a trip to an advisor would be a good idea.

loopy013

Hi Beecher2 my LTV is about 80% and I'm not sure what our follow on rate would be I will have to check.
My credit rating is good/excellent but I would prefer to fix rather than take a risk as we may have some additional financial outgoings this year as we are planning for a family.