Deal about to end!

Lea74

So my deal for my mortgage is about to end. The new deals that the bank is offering me is lot more than my current repayment by almost £200.00 - which I just cant afford.

I chatted the bank and that was the best that they could offer me. I cant change mortgages due my salary and xH is on mortgage in name only, title deeds transferred to may name as condition of divorce.

I will have to move to a variable rate of 4percent which will keep my mortgage payment the same as they are now, however I hate surprises especially when it comes to finances.

What is the outlook for mortgage rates any suddent increases anticipated (I know we would need a glass ball for this), however a good guesstimate would be be fine??

ACG

I dont anticipate any increases for a good year or 2 at the very least. There has been people saying a possible decrease over the last couple of months - but again i dont expect this either.

GMS

If it is a standard variable rate then generally it can increase as and when the lender choose, not when bas rates rise.

Which lender are you with?
How much do you owe?
What is property worth?

Lea74

ACG wrote: »

I dont anticipate any increases for a good year or 2 at the very least. There has been people saying a possible decrease over the last couple of months - but again i dont expect this either.

That would be awesome :beer:

I have been on a fixed rate for the past 2 years and fear that I may have been better off on a variable rate, but just couldnt take that chance.

The deals that the bank are currently offering only last 2 years. Interestingly they were offereing a £250.00 cashback which I have never seen before.