2 year fixed with more money on top.

murfer007

I have my mortgage that is coming to an end on 31st July & have ben looking around for what 2yr fixed deals there are.

I am with Alliance & leicster at the mo & after looking at Portmans 4.39 was nearly going for them until i saw all there charges & Im better of sicking with A&L at 4.64.

I want to put an extra £25k on top of my mortgage & Im being told that for the 1st month the 25K will be charges at 6.84 & will then run at 4.64 with my mortgage.

Is this right as I dont see why It doesnt just get added to my mortgage from the start & be charged at 4.64.

Thanks In advance

Stuart

lisyloo

Are you aware that a lot of commentators are expecting rate to fall as early as the autumn?

Do you really need or want a fix?

In some circumstances they can be a good idea, but if you are not stretched too much on affordability then it might be worth considering a variable rate.

murfer007

Im afraid I do as I have a Wife & 2 kids & money is tight so I really need to know what I will be paying out.

I know Its all pointing to a rate fall but you never know!!!!!!