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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Silly question about trying to fix a mortgage deal
diystarter7
Posts: 5,202 Forumite
Our son has a fixed deal ends in about 17/18 months.
I've told him to try and get another deal or start paying off two lots as the vlaue of the house has gone up and in 17/18 months' time he can stop paying the first one.
This is the silly question, can he do the above or can he get a deferred fixed deal to start in 17/18 months when he can pay fees upfront now and if he does not take that deal he loses the fees.
I hope I've not confused you.
I've told him to try and get another deal or start paying off two lots as the vlaue of the house has gone up and in 17/18 months' time he can stop paying the first one.
This is the silly question, can he do the above or can he get a deferred fixed deal to start in 17/18 months when he can pay fees upfront now and if he does not take that deal he loses the fees.
I hope I've not confused you.
0
Comments
-
@diystarter7 I may not have understood your question correctly, but if you are asking whether he can 'secure' a current rate 17 months in advance of his fix ending, the answer to that is no. At best you may be able to do so 6-8 months prior to the end of your fix.
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.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
0 -
Thanks, you've answered my question.K_S said:@diystarter7 I may not have understood your question correctly, but if you are asking whether he can 'secure' a current rate 17 months in advance of his fix ending, the answer to that is no. At best you may be able to do so 6-8 months prior to the end of your fix.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards