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NI Mortgage
northernireland10
Posts: 110 Forumite
in N. Ireland
Hi all!
Letter from my mortgage provider (Ulster) saying my fixed rate deal was ending at end of Jan. interest rate on it is over 5% as we took out 2 year fixed first time mortgage on 90% LTV. The rate will drop to 4% therefore saving a good bit, however as we still haven't come below 85% LTV the rates while shopping about aren't great should I stick on this new variable 4% until I get below 85 LTV or are the other options?
Letter from my mortgage provider (Ulster) saying my fixed rate deal was ending at end of Jan. interest rate on it is over 5% as we took out 2 year fixed first time mortgage on 90% LTV. The rate will drop to 4% therefore saving a good bit, however as we still haven't come below 85% LTV the rates while shopping about aren't great should I stick on this new variable 4% until I get below 85 LTV or are the other options?
0
Comments
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What is your LTV is it below 90 even, this information would be useful to see if there is a better deal for you0
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4% really aint that bad on 90% LTV and with all the fees associated with re-mortgaging there really may be nothing in it.0
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Mortgage at minute is at approx 87.5%, its only 2 years in to my mortgage.
Just worrying that its gone from fixed to variable, so might increase at some stage.0 -
HSBC are doing a 2 year fixed rate of 4.19 with max 90% LTV there doesn't seem to be an arrangement fee, it really depends on home much you want the security of a fixed rate.
Since you are out of the fixed rate with your current lender you are no longer tied in with them for any period so I would advise you stay with them until you can get the LTV to at least 85% and then take a look again0 -
^^^ Completely Agree0
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