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
Product Transfer or not?
burge1983
Posts: 41 Forumite
We have been on our lenders (Bank or Ireland) SVR since October, being hesitant to fix in a rate that was available at that time, and essentially 'riding out' the interest rate hikes that have been going on. Currently, its just shy of 7%. Ive checked today and am being offered a product transfer of 4.48% over 5 years. Our LTV is 75%, we're considering taking this, question is, is there much wiggle room a broker could get here to get it down further? the price per month difference in payments from this offered rate to a rate of 4% is only about 50 quid a month. original plan was to revisit the mortgage in june to see what the rates were then, but if its unlikely to reduce massively further from 4.48, inclined to act now
0
Comments
-
Well I read today about HSBC and Virgin offering 5/10 years fixes of 3.99/4% but this would mean moving lenders and maybe fees so your call.
Maybe speak to a broker
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards