mortgage advice - fixed rate ending

louie171

hi

I could do with some advice about my mortgage (6% fixed) which is due to end next month.

Im debating what todo to get the best deal etc but am alittle confused with so many products available.

I am planning on moving home in 6months time, would you advise sticking with the svr (3.5%) at the moment. Or could you advise any good deals (that have no fees , and are flexible ), do such deals even exist ?


thanks
Lou

opinions4u

If you're planning to move, I'd suggest slipping on to the SVR and changing things when you apply for the mortgage on the new property.

Avoids the risk of moving on to a portable fixed product, not being able to port and having to pay a big ERC to change lenders.

Consider saving / overpaying the reduced payment you're going to benefit from.

Thrugelmir

If you plan on moving. Stick to your lenders SVR.

May be worth maintaining your repayments at the current level and thereby overpaying the mortgage.

knuckledragger

My fix ended on 31st August. I snagged the HSBC 1.89% above BOE base rate so I'm currently paying 2.39%. It was max 60% LTV and I think this has now been replaced by 1.99% above BOE. So still a good rate. It was completely fee free and I can remortgage penalty free at any time. The process was hassle free and they put the remortgage through bang on the 31st. So overnight my mortgage repayments over halved! Very happy.