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Mortgage deal coming to end - help!
Smudge32
Posts: 373 Forumite
Hi
I've got 2 parts to my mortgage (sub accounts?). The first main bit is £100,000 and the deal runs out in Sep 06. The second bit (£25,000) runs out at the end of next month.
I was going to do my MSE bit and find a decent deal but all the advice I've received seems to be: let the mortgage go to the variable rate without a fixed deal until the first main bit is out of a deal too. Then see what there is on the market.
Does everybody agree with this? I've been on this site long enough to be wary of doing what the bank says!
I've got 2 parts to my mortgage (sub accounts?). The first main bit is £100,000 and the deal runs out in Sep 06. The second bit (£25,000) runs out at the end of next month.
I was going to do my MSE bit and find a decent deal but all the advice I've received seems to be: let the mortgage go to the variable rate without a fixed deal until the first main bit is out of a deal too. Then see what there is on the market.
Does everybody agree with this? I've been on this site long enough to be wary of doing what the bank says!
0
Comments
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You could also find out if your lender has a discount or tracker with no penalties. This way it would be cheaper than SVR, but then allow you the option to switch when the main mortgage rate expires.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
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