First Time Buyer - should I fix?

ari11

Hello- I'm about to move into a new place where I will be for the first time organising and paying for gas and electricity.

I was going to go variable rates and see how it pans out for the next few months but am a bit spooked by the gas and electricity price rises over the last few days.

Would you recommend just fixing a deal, perhaps one with exit fees (eg EDF) or just going on variable for the first 2 months to get a better idea of my useage.

Thanks

MK55

Hi,

It's totally dependant on what you want, I have just bought my first home and fixed until october 14, so I have just avoided price increase, so I'm now on a 15% discount I suppose compared to standard prices.

Since it is your first home you won't really know what you're using, i'd recommend using 16,500KWH Gas and 3,300KWH elec, as your annual consumption pop it in on a comparison site and switch to who you find best for you.

However - when you move in you will have a deemed supplier, the day you move in take a read and register with current provider as you will be with them for a couple of weeks before you transfer x

ari11

I want to fix as well.

I was just wondering if I could do so now (i have just exchanged and complete in mid-november). But from what you're saying, it looks like I need to register with the vendor;s current providers first and then switch to my preferred supplied provider - is that right?

What package would I be on with the 2 or so weeks I am with the vendor's current providers? Just the variable rate?

MK55

yes, ask them to place you onto the standard tariff, I wouldn't start the switch until you have actually take responsibility of the property. If it's delayed you'll be billed for energy etc.