Fixing my mortgage

Marvel1

I took out my mortgage 10 years ago - £58,500, 2 year tracker with Nationwide, ended and stayed on their BMR rate at 2% above the BOE rate.

Now rates are finally on the rise, thought protecting myself, fixed for the maximum 10 years, with 15 years left - which does me worry a bit with the last 5 years, if rates go sky high.

The question that throws me if how much is your home worth? I don't know, all I can do is guess, I assume the lender would do their own , how?

I never paid any fees when I took my mortgage out 10 years and costing £1000, I want to avoid this again.

What are the best comparison sites to use?

ricky_v

I've used https://www.moneysavingexpert.com/mortgages/best-buys/

Assuming the mortgage is less than £58,000, then it's cheaper to get a fee free product which is 2.49% fixed for 10 years 60% LTV. If you're concerned about the last 5 years after the 10 year fixed has ended then overpay to reduce the term, or remortgage with a 10 year term if you can afford it.

The question that throws me if how much is your home worth? I don't know, all I can do is guess, I assume the lender would do their own , how?

Some lenders value a property with their own house price index, some will send a surveyor.

ggloria007

HI,
the best way to find how much is your home is to contact the local agent and ask them to come and value the home 'as you might be interested of selling it' ;-) the agent will senf you their recomendation which you can supply to the lander...
good luck!