Stick with one lender for 25yrs or move around?

SavingPennies_2

Hi, we bought our home 3 years ago so now coming to the end of a fixed deal. I'm undecided whether to stick with our lender and fix for another few years, or move to another lender who is offering a slightly lower rate (no fee).

Also should I take into account the SVR they will drop to? Surely that will change in a few years anyway (one is currently 1.5% higher than the other).

I wondered what the general consensus is on sticking to one lender for the life of a mortgage or moving every time a fixed deal ends. It seems our parents stayed with one lender for the full term, perhaps this is a generational thing, or is it still the most sensible option? I thought loyalty to a bank or building society is no longer a good thing, does this apply with mortgages?

Sorry for also the questions I hope you get the just of what im saying.

Thrugelmir

Was a different market place some years back. As time moves forward the market will settle down again after the crazy lending years, and the vast differentials will erode way. Take a decision based on what's best for you personally at the time.

getmore4less

Ask yourself why you are fixing in the first place, unless you REALLY need to long term low cost trackers can be a option that reduces all the risks of the fees of changing.