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Mortgage Rates Crystal Ball..
RealBobbyDazzler
Forumite 45 Posts
It’s time for my remortgage, currently on a Nationwide tariff of 1.65% fixed for 2 years, was a 75% LTV.
I’m undecided between 2 mortgages with the same provider, they’ve valued my property way higher than expected putting me below the 70% LTV mark.
1.29% fixed for 2 years. + £999 Product fee.
1.54% fixed for 5 years. + £999 product fee.
I’ve done some calculations on the interest charged on each for the 5 year duration if the interest was to stay at 1.29% for next remortgage & accounting for the extra fees.
I just don’t know what to do, half of me feels the security for 5 years and a fixed interest rate seems good now, but my partner seems to think interest rates are going to drop further. I appreciate it’s a complete crystal ball, but just wanted to know what others thoughts & knowledge were, and what you would do. Just for reassurance if anything as I’ll be honest, I don’t follow all of the financial news, just done some light reading this afternoon to help my decision.
Thankyou
I’m undecided between 2 mortgages with the same provider, they’ve valued my property way higher than expected putting me below the 70% LTV mark.
1.29% fixed for 2 years. + £999 Product fee.
1.54% fixed for 5 years. + £999 product fee.
I’ve done some calculations on the interest charged on each for the 5 year duration if the interest was to stay at 1.29% for next remortgage & accounting for the extra fees.
I just don’t know what to do, half of me feels the security for 5 years and a fixed interest rate seems good now, but my partner seems to think interest rates are going to drop further. I appreciate it’s a complete crystal ball, but just wanted to know what others thoughts & knowledge were, and what you would do. Just for reassurance if anything as I’ll be honest, I don’t follow all of the financial news, just done some light reading this afternoon to help my decision.
Thankyou
0
Replies
Us OLD people remember 15% mortgage rates OUCH
How big is the mortgage and what are the no fee rates.
How long to get to 60% the real break in rates.
We have a relatively short mortgage term at 15 years and are hoping to reduce that further the next time we remortgage. Our LTV next time should be around the 50% mark if not a little under so we will get the best rates available at that time.
The 60-75% LTV bracket will only drop when banks are competing to get into the top tables and currently that is what is happening at 75% LTV.
HSBC were the top at 1.34 last month, they are now out of the top 10 so have again dropped their rates to 1.29 today to get back into the top 5, this will continue until all banks are doing the same rate at the same LTV, you will then have to look at the small print.....