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should I stay on SVR for time being?
turtleneck
Posts: 102 Forumite
I was originally in a 2 year fix but it expired nearly a year ago and I've been paying a rate of 3.89% on my mortgage.
What I like about being outside a deal is the ability to overpay without penalty. What I don't like is the higher monthly payment.
I would be surprised to see interest rates go up in the next year so I'm not too concerned about fixing right now (although I could get 2.5% from my existing lender for 2 years).
I am considering moving in the next 6 months and before I get tied in with a new fixed rate I have a question...
Is there any advantages of being on the SVR in terms of moving house? Or is the 'porting' process the same, whether you're tied into a deal or not?
What I like about being outside a deal is the ability to overpay without penalty. What I don't like is the higher monthly payment.
I would be surprised to see interest rates go up in the next year so I'm not too concerned about fixing right now (although I could get 2.5% from my existing lender for 2 years).
I am considering moving in the next 6 months and before I get tied in with a new fixed rate I have a question...
Is there any advantages of being on the SVR in terms of moving house? Or is the 'porting' process the same, whether you're tied into a deal or not?
0
Comments
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Will you be wanting to borrow extra money when you move?Changing the world, one sarcastic comment at a time.0
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no, i have no intention of borrowing more money0
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