To fix or not to fix?

Newyorkdreams

Hi Everyone - we are currently on the SVR for our mortgage with the Halifax which is currently at 3.99% - not as great as some folks on here who are tracking the england base rate but not that bad either. In fact, when our deal ended in September, we went down the way and ended up £100 a month better off :T

However, I like to know what is coming out of our bank accounts each month so I can plan and you can't plan with a variable rate. We certainly couldn't cope with variances of £300 or so. Not only that, surely interest rates are bound to go up at some point?

So, my question to you kind folks with your heaps of knowledge is whether or not now is a good time to fix. Nobody can predict wheter interest rates will stay at the same level for the foreseeable future or whether they will go up. The only deal open to us is a 3 year deal with no fee on 4.39%. It only means a difference of paying £25 more a month which we can accomodate at the moment for the peace of mind.

We can't remortgage with another company because we have a special deal where we have a second charge on the property (Barratts) and we need to pay them the remaining 25% of the property value within 10 years which won't be a problem because all our debts will be paid by then....I hope! That's the plan anyway:) And probably wouldn't manage it on our affordability anyway

What's your view?

Cheers

NYD x