Remortgage Now or after Chancellors statement?

michdeb

Our current fixed rate mortgage deal ends in June this year. We'll have about 8 years left so are looking at a 5 year fix (which we're hoping to overpay during that time).

Some banks/building societies will guarantee us a deal now to start when our current one ends. We've obviously seen all sorts of reports about the imminent increase in mortgage rates, but don't know whether we should be signing up to another fix now or wait to see what the Chancellor says in his statement?

Anyone have a crystal ball?????

Thrugelmir

Not sure that the budget is going to have any immediate impact on interest rates. The BOE is more likely to change the market overnight. As it is they that dictate the direction and level of interest rates.

kingstreet

My crystal ball says unlikely to see any rate increase this year and Carney was talking about a possible base rate cut in the financials yesterday.

I can't see mortgage products changing much in the near future and not in the two/three weeks before the budget.

Carnival789

If you can find an appealing fee-free deal with your existing lender you could always apply for that now and then change your mind later if need be.

AnotherJoe

. We've obviously seen all sorts of reports about the imminent increase in mortgage rates

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I haven't seen those, indeed what I've read as speculation since no one knows, seems to generally think rates will be stable this year, but in any case the budget can't change interest rates so there's absolutely no prospect that rates will immediately change as a results of the budget, it can't !