Mortgage deal coming to an end

madmaxuk

I struggled onto the houseing ladder almost 2 years ago now with a 10% deposit with a 6.19% fixed for two years with Nationwide.

Due to house price changes and repayments i'm at about 88% LTV i owe £102,000 i don't have the £3500 to get myself to 85% LTV.

My option
1. Fix now for 2 years at about 6.7% and see my mortage go up by £50 a month

2. Go on a viable rate of 3.99% and pay £140 less than i am now. then wait for a good fixed rate to come along.

3. Go on a viable rate of 3.99% and pay £140 less than i am now make overpayments on my mortgage of atleast £140 a month or maybe more and fix as soon as i get to 85% LTV which would give me a resanable rate although higher than the 3.99%

Look forward to seeing what people think maby people have other options i could consider.

Thanks

Max

ChopperST

Option 3 all the way, overpay overpay overpay.

If interest rates rise too steeply you can always take out a new product and fix but hopefully you will be able to bring your LTV to the magical 85% or less in that time frame.