My fixed rate is coming to an end..

d900

Hello all,

Ive had a read of this site and various others that have been linked in this section of the forum, after taking it all in i figured i would ask for some advice and see what others think.

I currently have a mortgage of 115,700 on a property worth 217,000

This is with HSBC and we pay around £650 a month over 28 years. This is at a fixes rate until the end of October.

Could anyone suggest some good ideas of where to go next? obviously saving money is the key factor. Its a complicated thing and having had a good look at everything i am still unsure of what to do.

If you need anymore info let me know, I have talked to various mortage brokes and none of them seemed to come up with anything super duper.

Thanks in advance

MortgagesInc

It depends really on whether you're looking to fix again, and for what term. Are you likely to move in the near future, or need any additional money for home improvements etc? If not, then fixing for a slightly longer term may not be a bad idea. See what HSBC will offer you, particularly as you've left it quite late to remortgage in time for your rate to finish.

Finally, fixed rates do seem to be falling slightly, so you may want to go on to a flexible tracker rate to see where the market goes in the next few months, with a view to fixing in 3/6 months time

herbiesjp

In terms of money saving, you need to get your skates on, as if you do want to leave HSBC it can take 4-6 weeks as a rough guide (it can be quicker, but depends on how quickly the solicitors action the paperwork).

This way you avoid paying HSBC Standard Variable rate for too long.

What is it about the deals offered that you do not like?