Is it worth paying to get out of fix

dixie_dean_2

Good question, I don't know. Will check.

dixie_dean_2

Not good getmoreforless, RBS SVR, currently 4%.

getmore4less

dixie_dean wrote: »

Not good getmoreforless, RBS SVR, currently 4%.

I guess you will look more closely at the followon for any new deal.


Why/when did you change the last deal and not go onto it's followon rate?

was that a jump or just a end of promotion remortgage.

It might be time to look at a low cost long term/lifetime tracker, no more remortgage or fees.

Overpaying will probably be just as effective than paying loads of fees.

dixie_dean_2

As said, at the time nobody expected rates to stay so low for so long. 4.69 was a decent deal at the time and I decided that rather than risk having a few months cheap but then the fixes going up (obviously 0.3% or whatever over the 5 years would have outweighed a few months on a much lower rate) i would just fix.

Wh05apk

getmore4less wrote: »

I guess you will look more closely at the followon for any new deal.


Why/when did you change the last deal and not go onto it's followon rate?

was that a jump or just a end of promotion remortgage.

It might be time to look at a low cost long term/lifetime tracker, no more remortgage or fees.

Overpaying will probably be just as effective than paying loads of fees.

You seem obsessed with follow on rates, whilst they are a guide they are not that important, partucularly where they are just an SVR which the lender can change at any time (see Skipton) most people, unless they are with Nationwide/C&G @2.5% or an old tracker on a low rate could do better remortgaging, basing your choice of a 5 year fix on what the lender is charging as an SVR now really is irrelevant.

dimbo61

like you I needed the security of a 5 year fix from 2005-2010 and now on a tracker but what made the difference for me was overpaying.
Now 4.69% is cheap YES you read right its cheap with the average BOE base rate over 5% so overpay as much as you can