Got to decide on remortgage fixed term. Advice please

Jon_S_4

As I mentioned before this is exactly the reason I don't spend too much time here anymore.


Some people are interested in getting value for money and some people lick the inside of crisp packets.


I like to judge other peoples opinion on certain things and from that make my own choices.


its a remortgage. no real serious financial decision as I already pay my mortgage at a higher rate than any of the offers I posted.

Imma_Number

I'm torn between "Tracker 2 yr - 0.99% above base rate. Fee £499" because no-one has voted for it yet and I think it feels unwanted and "Fixed 7 yr - 3.14% No fee" because who doesn't like PI

dimbo61

Well I took the security of a 5 year fix when I took out a Huge mortgage in 2005 but it was an offset mortgage and we managed to save and overpay every month to pay down the mortgage ASAP


Now rates are much lower but paying off the mortgage is the name of the game.


As some of the brokers have said they really would need to do a FULL fact find to see what is the best deal for you.


Your age, income, pension, savings, investments, kids, long term plans, Loan to Value all need to be taken into account.

PixelPound

Jon_S wrote: »

As I mentioned before this is exactly the reason I don't spend too much time here anymore.


Some people are interested in getting value for money and some people lick the inside of crisp packets.


I like to judge other peoples opinion on certain things and from that make my own choices.


its a remortgage. no real serious financial decision as I already pay my mortgage at a higher rate than any of the offers I posted.

The question was obviously wrong then, though even if generalised it might have solicited similar responses. All of us here our spending our own time here, giving opinions, etc all for no financial gain. so as it seemed you wanted opinion on what each of us would do then really we need to consider that we'd in a similar situation to you, otherwise its irrelevant. How so - well someone who can afford a 2yr, but might find a 5yr fix a struggle will react differently (their mindset will be affordability if rates change) to someone who could easily make overpayments and would look at best value. Someone aiming to live 20 years in the same house and wants peace of mind will think differently to someone who is progressing on a career ladder and knows they will be in a better job in a couple of years.


Its not that people are trolling, but feel its a futile question if there is no basis to consider it. I could ask what colour scheme to paint my lounge and give a list of options. People would probably ask what furniture did I have in it and what flooring, to try and get it all to match. If I then said no, what would you with yours - people may react similarly.