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Mortgage advise please
vegasbaby100
Posts: 156 Forumite
Hi
We are with Nationwide and our 5 year fixed is now ending. Our house is valued conservitly at 145,000. our outstanding mortgage is 103,000.
I was wondering if anyone knows what are the best 5 year fixed deals around for this amount of equity. if needed we could take a few 1000 off our mortgage.
We are with Nationwide and our 5 year fixed is now ending. Our house is valued conservitly at 145,000. our outstanding mortgage is 103,000.
I was wondering if anyone knows what are the best 5 year fixed deals around for this amount of equity. if needed we could take a few 1000 off our mortgage.
0
Comments
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You might be better soldiering on with the rate that you follow onto as this is likely to be very competitive compared to a new five year fixed rate.
If you carry on paying the mortgage at the same level as your fixed rate required then you will be budgeting for the rate to rise inevitably and overpaying your mortgage in the meantime. The only thing you wont have is a cap on your payments.
Oh and you save a Fixed Rate arrangement fee too. Your BMR mortgage with Nationwide will allow you to fix at anytime if you get nervous but rates might be higher than they are today but a lot depends on the Swap Rates available from time to time.I am a Mortgage AdvisorYou should note that this site doesn't check my status as a Mortgage Advisor, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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