Fixed Rate Mortgage

alnsal1

I have 18 months to run on a fixed rate mortgage. I pay £356 pcm based on a 15 year mortgage. The rate I got was 4.25%. Am I better to see the 18 months out on what is a good rate or will i be able to swap to a new mortgage and make some savings there. Incidently i borrowed £46,000.

Gorgeous_George

Depends on the penalty for cashing in early and the rate that you could get now compared to what you believe rates will be in 18 months time.

I'd expect it to be better to see out the 18 months and overpay as much as possible or save it if that's not allowed.



GG

save-a-lot

Hi

I cannot see how you would save by changing mortgage provider when the rate you have is unbeatable. I would overpay like crazy (if allowed to) whilst at this rate.