End of 5yr Fixed Term - what to do now

samlovescomps

Hi all. I really need some advice about my mortgage. I have come to then end of my 5 yr fixed term mortgage deal with C&G. What happens now? Do they contact me to tell me what my new payment will be or should I contact them? Don't know what to do???

samlovescomps

Sorry to bump but please can anyone help me??

jakesmummy05

Ours is ending as well.

Our mortgage is with the Halifax.

I am that knowledgeable on these sorts of things but you can either stay on your mortgage providers variable rate, stay with your lender and refix or move mortgage provider.

Thrugelmir

By default you will move onto either the standard SVR of the Lender, or the rate as specified when you took out the fixed term product.

They will notify you of your repayment amount.

Suggest you give them a call to clarify matters. At the same time ask what current products are on offer to you.

lentrix92

usually your current lender is not the best rate - best to look around and move lenders if you can.......

Batchy

try a lifetime tracker... if you get into a low rate tracker lifetime rate, you dont need to look at this again as its unlikely you will gain much after paying the fees from doing so.

Thrugelmir

lentrix92 wrote: »

usually your current lender is not the best rate - best to look around and move lenders if you can.......

There's other considerations besides simply the headline rate.

dimbo61

The first thing you do is check what happens when the fix ends !
Now the SVR might be 2.5% so check this first.
Then speak to the mortgage centre and find out
1 what your outstanding balance is.
2 what deals they have for existing customers
3 how much THEY value your home at
4 any fees to change products
5 consider other lenders if better deals available

samlovescomps

Thanks everyone