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Im Starting To Panic! Help!!
vsumouse
Posts: 164 Forumite
me and my o/h have a one account martgage at a rate of 6.55%.
we are now starting to get itchy feet over going back to a fixed rate, whilst the rites keep increasing,
we have only been with the one account for about 8 months but im sure there is no tie in.
with all the media saying that banks are starting to pull fixed rates off the shelf, it makes me wonder if they are worth grabbing before they all go.
i was looking for some help with what type of mortgage to go for, we are not in a position to over pay a massive amount for the next few years as we have a wedding to finish paying off.
what would you money savers do in our shoes?
we owe approx £100,000,
house is valued at £140,000
we would like to take the mortgage over 18-20 years.
we are now starting to get itchy feet over going back to a fixed rate, whilst the rites keep increasing,
we have only been with the one account for about 8 months but im sure there is no tie in.
with all the media saying that banks are starting to pull fixed rates off the shelf, it makes me wonder if they are worth grabbing before they all go.
i was looking for some help with what type of mortgage to go for, we are not in a position to over pay a massive amount for the next few years as we have a wedding to finish paying off.
what would you money savers do in our shoes?
we owe approx £100,000,
house is valued at £140,000
we would like to take the mortgage over 18-20 years.
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Comments
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So how much do you have in the way of savings?"You were only supposed to blow the bl**dy doors off!!"0
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with the one account my savings were vaporised when i opened the account. we owe £100,000 with no savings0
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with the one account my savings were vaporised when i opened the account. we owe £100,000 with no savings
there's little point in having a one account then - you can get a flexible mortgage from 5.25% with unlimited overpayments and save yourself £1300 per year.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
me and my o/h have a one account martgage at a rate of 6.55%.
we are now starting to get itchy feet over going back to a fixed rate, whilst the rites keep increasing,
we have only been with the one account for about 8 months but im sure there is no tie in.
with all the media saying that banks are starting to pull fixed rates off the shelf, it makes me wonder if they are worth grabbing before they all go.
i was looking for some help with what type of mortgage to go for, we are not in a position to over pay a massive amount for the next few years as we have a wedding to finish paying off.
what would you money savers do in our shoes?
we owe approx £100,000,
house is valued at £140,000
we would like to take the mortgage over 18-20 years.
Contact your existing lender and ask them what 2 year fixed rates they have for existing clients.
But do it now!
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
toonfish,
PM sent0 -
and again
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