Poor Advice

Evilm

Three years ago that WAS a good rate and deal. You do realise your mortgage advisor isn't psychic don't you?

Conrad

I had a client fishing for compensation for this exact same scenario recently.

About 3 years ago she entered my office unannounced and in an emmotional state as she'd been told by another broker she would not get a mortgage. She needed a 100% deal. At that time the only offer available to her was with BM Solutions fixed 3 years at 6.59%. This was at the time rates had been rising rapidly.

I was her saviour when I got the mortgage agreed!

People have selective memories, thankfully I get clients to sign everything right down to the KFI and factfind (every page including the one she signed to confirm she wanted a FIXED RATE).

emma.b123

Must admit, I'm a little puzzled why the OP thinks he was screwed over ... this was 3 years ago when we were all living like 21st c. yuppies lighting cigars with money! I locked in 3 years ago to a 2yr fixed 7.2% :eek: (albeit a 100% LTV) - we were told we were the last ones in the country through the 100% door, so it's a hit we had to take. TBH, going through the whole 'crisis', a £400-odd pm mortgage is not doing too bad really. If we held off, we could have saved a desposit and bought at a really good time, but you have to weigh things up. I think instead of being FTB on the ladder, I would have instead been a 28 yr old, still long term 'engaged' living at home with mum - so it's swings and roundabouts really. The moral of the story being sometimes it's not worth putting you life plan on hold in the vain of saving/making a few quid.

Rickoza

Only asked for an opinion, not a barrowload of cheek. Thanks to the sensible replies. I've no idea how mortgages and things work so thought I'd ask, maybe know better nest time..........:(

Morgage_Confused

Time circuits on. Flux Capacitor... fluxxing. Engine running. All right!

mondello

This is the chance you take when you decide to fix. I was in a similar situtation and thankfully my halifax mortgage dropped to variable back in Jan 11 and I have decided not to fix again. The halifax standard variable is pretty good at the moment so like me you are fortunate that it has dropped to such a low rate when I know others in the same situtaion have not seen such a great difference when going to variable.

If you can manage paying your old amount it might be a good idea to continue with this so the extra money would be an overpayment on your mortgage allowing you reduce your term. It really does make a difference and you could be in a better position if you decide to fix again in the future.

Eta: ignore the silly replies and don't let it put you off asking questions on here, some people are just insensitve.

dunstonh

Only asked for an opinion, not a barrowload of cheek.

All the cheek came from you IMO.

_Andy_

Rickoza wrote: »

Only asked for an opinion, not a barrowload of cheek. Thanks to the sensible replies. I've no idea how mortgages and things work so thought I'd ask, maybe know better nest time..........:(

Should have gone to the Enchantment Under the Sea dance

JuicyJesus

I absolutely love that every stupid thread is now being derailed into Back To The Future references. A stroke of genius if you ask me.

Now I'm going to make like a tree, and get out of here.

kingstreet

JuicyJesus wrote: »

I absolutely love that every stupid thread is now being derailed into Back To The Future references. A stroke of genius if you ask me.

Now I'm going to make like a tree, and get out of here.

"It's "leave" you idiot. Make like a tree and leave. You sound like a damn fool when you say it wrong!"