What mortgage rate would you be happy to fix at following the budget?

tripled

We secured a 5 year fix at 3.41% (no arrangement fee) just before the mini budget chaos. It doesn't take effect until December so theoretically could pull out, but we're planning to stay with it. I think that for a 5 year fix somewhere below 4% would probably be worth it, a little higher perhaps a 2 year fix may still be worth considering, otherwise it would be a discounted tracker.

Orchid96

We have a 10year product secured at 3% and need to complete the remortgage by mid of December. Still thinking of going ahead with that.

oliel

I feel your pain im with clydesdale who seem to only do offset or fixed rate.  Best rate I can get at the moment is 5.3 via broker or 5.37 switching online.  Has comedown about0.2% since I started checking - current rate runs out end of May 23.  

IAMIAM

[Deleted User] said:

I chose tracker (Barclays 5-yr, 0.60%+BOE). I've never done tracker before, and I am worried... but also not willing to fix at almost 6%. Having said that, the Barclays tracker comes with no ERC and I can always switch later to fix, should rates start to come down to <4% again.

This is the product I want but have to wait until January to apply as I want my remortgage to complete on 1st July, they only offer 6 month offer from application date. `I hope the product is still available. 

chelt_Robin

I am within 6 months of my mortage fixed term expiring. I have agreed to fix for another 2 years with my current lender at just below 6%. Which is high. But I can cancel this switch rate at any time with no fee to me. Therefore closer to the actual remortgage date I am planning on seeing what better deals there are either with my current lender or with another lender. I could apply for a 5.35% at the moment with another lender but I would be tied in looking at the T&C for when it takes effect in May. Therefore I am going to hold off until around FEb/March and look again. If rates go crazy again I have 6% locked in which is just about affordable. 

EmJHall97

I'm a First Time Buyer, my partner and I are in a fortunate position and both have good jobs. We're currently renting and before Trussenomics we were in a position to buy a long term family home. We were looking at houses and even put some offers in.

Now we're going to have to pay into a renting black hole for a while longer because the rates are insane. We would be able to afford if the rates were 5% and under to be honest. A mortgage right now would be £1000 more than what we're currently paying in rent.

We viewed essentially our perfect home the other day and it's so frustrating and depressing because if it wasn't for recent government decisions we would probably have an accepted offer by now. I've been quite upset about it recently. It's just feels even more impossible for young FTB like me to buy now.

housebuyer143

IAMIAM said:

I think barclays has the best solution at the minute....5 year tracker at 0.6 above BOE. Ditch and fix when rates plummet again within the 5 years penalty free

Skipton do 0.4% tracker. 

IAMIAM

housebuyer143 said:

IAMIAM said:

I think barclays has the best solution at the minute....5 year tracker at 0.6 above BOE. Ditch and fix when rates plummet again within the 5 years penalty free

Skipton do 0.4% tracker. 

Not for 5 years they don't, and not with a £999 fee. Why do 2 year tracker with a £2k fee?!?!

IAMIAM

The best two year tracker is now YBS no fee and a 1% ERC in my opinion 

housebuyer143

IAMIAM said:

The best two year tracker is now YBS no fee and a 1% ERC in my opinion 

Agreed! I'm going to apply for it I think.