Lloyds 10 year mortgage

330d

Currently Lloyds are offering a 10 year fixed mortgage at 1.86%.

With the interest rate rise of today I assume this will increase tomorrow? 

I know it's a difficult question to answer but what are your thoughts?

kingstreet

It will depend on how much of the tranche is left unreserved. It won't be withdrawn due to the base rate increase as that is likely to have been factored-in already. Obviously, human nature may result in a glut of bookings and the funds are exhausted quicker.

Snookie12cat

330d said:

Currently Lloyds are offering a 10 year fixed mortgage at 1.86%.

With the interest rate rise of today I assume this will increase tomorrow? 

I know it's a difficult question to answer but what are your thoughts?

That's not really how it works. Rates have already been increased in anticipation for the rise as they saw it coming. 
It could increase at any time and probably will so if you want it you need to apply asap.

330d

Snookie12cat said:

330d said:

Currently Lloyds are offering a 10 year fixed mortgage at 1.86%.

With the interest rate rise of today I assume this will increase tomorrow? 

I know it's a difficult question to answer but what are your thoughts?

That's not really how it works. Rates have already been increased in anticipation for the rise as they saw it coming. 
It could increase at any time and probably will so if you want it you need to apply asap.

Ok thanks.

I do want to apply for it soon but wasn't sure if it had to be today for that particular rate.

330d

Also what's the general views on this rate? Seems a very good rate for a 10 year fixed.

Thrugelmir

The future direction of interest rates appears upwards as broader fiscal policy normalises. A 10 year fix provides peace of mind and makes longer term budgeting easier.  

Snookie12cat

Personally, I would fix 10 years at that rate if you do not plan to move.

330d

Snookie12cat said:

Personally, I would fix 10 years at that rate if you do not plan to move.

But even if you move, you just take the mortgage product with you?

[Deleted User]

Is it portable?

330d

So looks like my luck is out. Phoned Lloyds and the expiry date of the mortgage product is end of August.

My current deal expires end of September and if I switch any sooner I will pay a £2400 early repayment charge. 

MFWannabe

330d said:

So looks like my luck is out. Phoned Lloyds and the expiry date of the mortgage product is end of August.

My current deal expires end of September and if I switch any sooner I will pay a £2400 early repayment charge. 

Are you sure you will miss out? 

Normally you can change 3 months before current deal ends, ask them the question