NI Mortgage

northernireland10

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?

CL

What is your LTV is it below 90 even, this information would be useful to see if there is a better deal for you

warmhands.coldheart

4% really aint that bad on 90% LTV and with all the fees associated with re-mortgaging there really may be nothing in it.

northernireland10

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.

CL

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 again

warmhands.coldheart

^^^ Completely Agree