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Is My Broker Mad????
Comments
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Tell me about it. If I could get a fiver each time I would be very rich .... LOL0
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MortgageMamma wrote: »thats broker language for
my head is mushed, if another client asks me what I think fixed rates will do in the next quarter, i will throw myself off the nearest tall building
You been on that Pinot Noir again? lol
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
All - thanks to everyone for your help. Looks like my broker was trying it on to me. So I've fired him and got a new one.
Cheers.0 -
Well done!
I luv it when a plan comes together.
All the best
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
Also look at the terms of the current mortgage - if you decide to stay with your current lender there is a chance that they cannot offer you a deal until a specified time before the expiry of your current deal.
In my case they could not offer me until 2 months before. I tried 3 months before, then the rate went up. I lost out, but taking into account the leaving fee, and new fees, it was still worth staying.0 -
I'm in the same boat as the OP, however my advisor has suggested applying now and securing a deal before the rates change, he suspescts upwards too. I'm currently in a fixed until Oct07 at 5.09%, today if I want a fixed for 5 years I can only get around 5.69% which is a bit gutting, but the way of the world. My current lenders rates are over 6% now to fix for 2 or 3 years... :eek:
Is fixing for 5 years good advice? Capped mortgages worth thinking about too?
If I was the OP i'd ask the broker why he cannot do the same as others have suggested and fix a deal and leave it ready for Sept...Mortgage Free Wannabe Light Bulb Moment (Early 2012, started May 2012)
Original Mortgage Amount - £147k (Oct 2005) / Term 27 years (To 2032)
Target to Pay off by 2026 by overpaying - Officially Mortgage Free June 2023!
Balance Reduction Progress: May12 £128k / Nov13 £120k / Dec15 £107k / Mar18 £87k / Mar21 £46k / Jun22 £28k / Jun23 £0!!0
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