Remortgage now or later?

MrMoo123

Hi all,
Just after some advice really - mortagages are so daunting there always seems to be a hidden pitfall.

Im currently paying £920 a month and have about £165k to go and 33 years left... its a discount tracker, so although I still go up and down with the interest rate, the current rate im getting is discounted. The discount rate doesnt expire until Dec 2008 but with the current interest rate changes and the outlook only looks like its going to jump a few more times this year, I was wondering would now be a good time to change it to a fixed rate???

I have no leaving fees for changing the mortage at the moment, so im not locked in.

I read the remortage guide and although ive got a better understanding of it all now, my mind still isnt made up. I thought id look on the internet for a good deal, and saw a fixed rate with northern rock which would reduce the monthly payment by about £120 a month over the same term - BARGAIN I thought, went to read more details and they wanted almost £5 grand in arrangement fees!!!!! How on earth can they justify that cost?!?! :eek:

I understand there are going to be some fees to change, but im kind of assett rich and cash poor, I just can't get my hands on that sort of money up front.

And this London & County - although highly reccomend by the site i'm still a bit dubious - what does the process involve? Do you simply give all your details and they go off and find you a better deal and tell you what it costs?

Are there any blinding deals at the moment you might be able to alert me to?

Any help would be greatly appreciated it :beer:

MrMoo123

Was anybody able to help?