Changing 2 years fixed rate to 5yrs

enthusiasticsaver

Fix or don't fix according to your circumstances. Do you mean you have already got an offer for a 2 year fixed rate but not yet drawn on it? Were there any fees? There may be a bit of a delay in starting the process from scratch again although I don't think they will credit score again. It will mean a whole new offer who hopefully you are not yet close to exchange as this will delay things.

Incidentally there is no particular reason why Brexit should mean interest rate rises, they could equally fall. Depends on whether we get a deal, the immediate effect on the economy and currency fluctuations. We are taking a leap into the unknown.

Thrugelmir

peter12345678910 wrote: »

Probably this fear of Brexit has not been helped by the Governor of the BOE and is causing confusion, if you read this letter he sent to the Chancellor he does blame high inflation due to higher import costs due to Brexit:

Blame is a little strong. As currencies constantly fluctuate for a variety of reasons. Not least speculators.

jaelato1

Thank you all for your replies.
Personal circumstances was one of the main reasons for wanting to switch not just Brexit, the whole switch took a day. I didn't have to apply again, i didn't pay anything. Told them about it, underwriter re-review my application and was issue offer same day.Got all the paperwork following day too.....and btw the interest rate is now lower (0.15) to what we were quoted when we initially applied

Peelerfart

Result :-)