Do I wait for interest rates?

Ricardo_Philipe

My mortgage comes to an end at the end of November. I am getting a fixed rate. Do I get it now or risk the Bank of England reducing rates? The danger is of course they move it up !

Any advice?:beer:

MortgagesInc

Are you staying with the same lender? If you're looking to remortgage, you need to start now really, to make sure that you complete as soon as your rate finishes.

If you are looking for the security of a fixed rate, then take one now. The base rate reducing wouldn't necessarily have an immediate impact on fixed rates anyway.

herbiesjp

Find out what your current lender will offer you first

Then, compare with other deals on the market.

If they are free legal fee and valutaion deals (add the arrangement fee to the loan) - that way no upfront fees have been paid

You can then see if in the meantime any better deals come out, and change lender if need be.

This is the simplistic version, but I would suggest getting a whole of market adviser to help you through with this