Mortgage - Renewal, lost and im new.

[Deleted User]

Hi everyone

I am fairly new here and don't find time to visit often, but I do enjoy reading a lot of what you all write. Now I need some advise.


My motgage (fixed rate repayment) ends in the summer, now I have been reading that if you want a good deal you need to take a fixed rate now before the rates increase, now can I take a new deal now or do I have to wait until the end of the fixed rate, I know this is a really silly comparison but I know some phone companies allow you to take a new contract before one expires as long as you stay with them.

I do plan to stay with the same bank, so that may help.

Im lost...

[Deleted User]

anyone help?

rich744

assj wrote: »

Hi everyone

I am fairly new here and don't find time to visit often, but I do enjoy reading a lot of what you all write. Now I need some advise.


My motgage (fixed rate repayment) ends in the summer, now I have been reading that if you want a good deal you need to take a fixed rate now before the rates increase, now can I take a new deal now or do I have to wait until the end of the fixed rate, I know this is a really silly comparison but I know some phone companies allow you to take a new contract before one expires as long as you stay with them.

I do plan to stay with the same bank, so that may help.

Im lost...

Slow down there buddy....

Key question: what variable rate will you move onto when your fixed rate ends....?

What ratio is your loan equity to value?

[Deleted User]

Good question I will have to check, I took a shared ownership mortgage and purchased this share in this house when I was 18, so I did rush into it a bit and now I am lost as this is again all new.