Ditch and Fix?

RobM99

cook0891 said:

Hi all,

Yes, all sorted and locked in. 

I am so relieved 😊😊

Sometimes that secure feeling outweighs the few £££ you might (might!) gain.

MFWannabe

cook0891 said:

Hi all,

Yes, all sorted and locked in. 

I am so relieved 😊

👍 must be a huge relief 

HeyGoogle

Got a similar sized mortgage with Halifax able to renew 1st Nov if I can get those rates will be over the moon was half dreading something like 6.5 to 7%. Don't think I'll be able to wait will ring Monday when they open. Fingers crossed.

cook0891

HeyGoogle said:

Got a similar sized mortgage with Halifax able to renew 1st Nov if I can get those rates will be over the moon was half dreading something like 6.5 to 7%. Don't think I'll be able to wait will ring Monday when they open. Fingers crossed.

Good luck!! I had to pay the £800 early repayment charge but for peace of mind was worth it. 

Apparently the 3 year deal has only been out since last 1/10/22 and is seen as them doing a nice thing for certain customers (not sure I believe that slant on it, but hey, I will take it) 

Hope you get sorted, def worth a ring and an ask 👍

Lewis7498

cook0891 said:

Hi all,

Yes, all sorted and locked in. 

I am so relieved 😊😊

Hi @cook0891 can I just ask (as I’m with Halifax too ending in May 23 with the exact same amount as you left!) did you call up and get this rate as online it’s still too early to see any rates for existing customers? Thank you 😊 

cook0891

Lewis7498 said:

cook0891 said:

Hi all,

Yes, all sorted and locked in. 

I am so relieved 😊😊

Hi @cook0891 can I just ask (as I’m with Halifax too ending in May 23 with the exact same amount as you left!) did you call up and get this rate as online it’s still too early to see any rates for existing customers? Thank you 😊 

Hi, apologies for the delay, I have only just looked on this site now. 

I have just read your own forum post so assume you already have the answer, but in case anyone else is reading this….yes, I rang up to ask the question. Like you say it isn’t available online. 

I noted your ERC was a lot higher than mine though, might be worth checking? Correct me if I am wrong but you said nearly £1,300? Mine was £832. 

But glad you got the rate!! 

cook0891

HeyGoogle said:

Got a similar sized mortgage with Halifax able to renew 1st Nov if I can get those rates will be over the moon was half dreading something like 6.5 to 7%. Don't think I'll be able to wait will ring Monday when they open. Fingers crossed.

Any luck? 

Lewis7498

cook0891 said:

HeyGoogle said:

Got a similar sized mortgage with Halifax able to renew 1st Nov if I can get those rates will be over the moon was half dreading something like 6.5 to 7%. Don't think I'll be able to wait will ring Monday when they open. Fingers crossed.

Any luck? 

Ah thank you for replying! I wouldn’t of known about it if i hadn’t seen your post 😊

Yes my ERC is £1296 I have no idea why but maybe it’s because I’ve made some overpayments this year too so it’s a penalty??

She is calling back tomorrow to see if I want to go ahead and it is obviously so much better than 5.64% with HSBC!

I think I’d still be quids in if I took it early and paid the ERC, I just worry so much about leaving it until Jan/feb and wish I’d done it? How did you work out whether it was worth it with your ERC?

cook0891

Lewis7498 said:

cook0891 said:

HeyGoogle said:

Got a similar sized mortgage with Halifax able to renew 1st Nov if I can get those rates will be over the moon was half dreading something like 6.5 to 7%. Don't think I'll be able to wait will ring Monday when they open. Fingers crossed.

Any luck? 

Ah thank you for replying! I wouldn’t of known about it if i hadn’t seen your post 😊

Yes my ERC is £1296 I have no idea why but maybe it’s because I’ve made some overpayments this year too so it’s a penalty??

She is calling back tomorrow to see if I want to go ahead and it is obviously so much better than 5.64% with HSBC!

I think I’d still be quids in if I took it early and paid the ERC, I just worry so much about leaving it until Jan/feb and wish I’d done it? How did you work out whether it was worth it with your ERC?

I suppose depends what on your contract but think mine was 1% (I will be honest didn’t check but actually sounds right thinking about it now) 

My other logic was if I was to move provider in May I would probably have to pay £1k product fee where as this was £0 and straight forward application as not changing terms. Made it nice and simple. 

I decided wasn’t worth the stress and anxiety that been causing me last few weeks, and would continue to do so until Feb when could move penalty free. My other thinking was if went up by £50pm over 3 years that would be £1,800 so minus £800 ERC still a grand better off. Of course, these all estimates on amounts. 

I did ring them before the mini budget and crisis so start of September and was offered even better rate and longer terms (as would to be expected at the time) but decided to wait, hindsight hey!! 

Lewis7498

cook0891 said:

Lewis7498 said:

cook0891 said:

HeyGoogle said:

Got a similar sized mortgage with Halifax able to renew 1st Nov if I can get those rates will be over the moon was half dreading something like 6.5 to 7%. Don't think I'll be able to wait will ring Monday when they open. Fingers crossed.

Any luck? 

Ah thank you for replying! I wouldn’t of known about it if i hadn’t seen your post 😊

Yes my ERC is £1296 I have no idea why but maybe it’s because I’ve made some overpayments this year too so it’s a penalty??

She is calling back tomorrow to see if I want to go ahead and it is obviously so much better than 5.64% with HSBC!

I think I’d still be quids in if I took it early and paid the ERC, I just worry so much about leaving it until Jan/feb and wish I’d done it? How did you work out whether it was worth it with your ERC?

I suppose depends what on your contract but think mine was 1% (I will be honest didn’t check but actually sounds right thinking about it now) 

My other logic was if I was to move provider in May I would probably have to pay £1k product fee where as this was £0 and straight forward application as not changing terms. Made it nice and simple. 

I decided wasn’t worth the stress and anxiety that been causing me last few weeks, and would continue to do so until Feb when could move penalty free. My other thinking was if went up by £50pm over 3 years that would be £1,800 so minus £800 ERC still a grand better off. Of course, these all estimates on amounts. 

I did ring them before the mini budget and crisis so start of September and was offered even better rate and longer terms (as would to be expected at the time) but decided to wait, hindsight hey!! 

Ah hindsight! But still that’s an amazing rate the way things are so I’m glad seeing your post made me call up so thank you!

I guess things aren’t exactly going to go down anytime soon and like you say I worry excessively (daily!) and have such anxiety so I may as well just do it.

Its so weird but my ERC is 1% but my annual mortgage statement says £1296. No idea how it’s worked out when I have £81K left?! Will ask tomorrow!

Did you know instantly you wanted the 3 year fix instead of the 5?

Thank you for taking the time to reply.