Stay On Tracker Or Fix It ???

dimbo61

give them a ring and ask
So your mortgage was 4.5 + 1.39%=5.89%
Loan to value ! how much is the property worth and how much debt/mortgage

jonnelson2011

My mortgage rate was at 5.89 when I first took it out in 2008, but has since been at 1.89 for the last 18 months or so.

My LTV I think :

The mortgage was for 123,525. Going with my paperwork, I think come November I will have paid of 5K of this as repayment and the rest on interest.

I am unsure what my house is worth today. Maybe 125-130 ??

beecher2

Your loan to value is too high to look elsewhere. Your lender may offer you a deal - Halifax have certainly offered deals to people with high LTVs in the past. However it is unlikely to be a very good deal so you may end up on the SVR, which is 3.5% at the moment. You probably need to pay down at least another £10k before you can get a deal elsewhere. Make the most of your low rate at the moment and overpay or save as much as you possibly can. Go onto the Debt Free Wannabee forums for help in budgeting so as you are prepared for when rates increase.