Mortgage fixed term ending soon..Advice needed

frost007

hi this is my first post here so hi all and i would like to thank you in advance for any advise given.

My halifax (HBOS) mortgage fixed rate is ending at the end of
October. I have got the following details in feb this year.

the balance was £100,148
£93,000 fixed @ 6.39%
and the remainder is 3.5% variable(i remortgaged £10,000)

i was told at the end of the fixed rate i can put it all together into one rate.

my question is with the BoE rate at .5%( i realise this may change) what can i expect to
pay monthly. I currently pay nearly £700p/m

thanks

Farmerbob

Are they both the rates that your mortgage will go to when your fixed rate expires of are these the rates as they are now?

Rgs

Farmerbob

Forgot to ask the term left after Oct?

You may find this website useful to calculate yourself:

http://moneyfacts.co.uk/compare/mortgages/mortgage-quick-repayment-calculator/

frost007

Hi farmerbob

I think I have 30 years left :-(
and the rates I gave are the rates I have just now.
Thanks

Farmerbob

From a quick search on the web I think the Halifax SVR is currently 3.50% (someone else can verify this) so you payts at 30y term will be approx £449.71

frost007

i think that is what i wanted to hear.
thanks for that.

ps i see your from Gla....me too:beer:

Farmerbob

No probs glad to help a local!

frost007

dont suppose you know of any decent independant financial advisors do you?

Farmerbob

Nope im afraid, but ask about friends/family, im sure somebody else will have a suggestion