We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Should I switch mortgages?
Aztecsilver
Posts: 31 Forumite
My 3 year fix rate mortgage at 5.3% is due to expire in Janurary and with all the news at the moment of the soaring rates on fixed mortgages and the additional cost of fees to switch should I leave it before I switch? I have made an appointemnt with a mortage advisor, but throught any other views may be useful.
Cheers
Cheers
0
Comments
-
Almost certainly no, you will likely have hefty penalties on your existing deal. Fixed rates are not soaring, tracker rates are increasing but not fixed rates if you are 10 weeks away from the end of a deal, you can go for something now, to secure the deal, but delay completion.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards