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
Remortgage crossroads
rmc86uk
Posts: 19 Forumite
Hi All
I know this will be a daily post but my 2 year fixed term ends next month with First Direct.
Current mortgage loan is £78000 paying £480 per month 15 years left.
The current SVR is 6.9% of which my mortgage will increase by £221 per month to £701
Currently looking at most products around 6%. I'm guessing i'll be best fixing at 6% for a 2-3 years as the SVR could go up.
I think I have pretty much answered my own question just wondered what other peoples thoughts are?!
Thanks in advance
I know this will be a daily post but my 2 year fixed term ends next month with First Direct.
Current mortgage loan is £78000 paying £480 per month 15 years left.
The current SVR is 6.9% of which my mortgage will increase by £221 per month to £701
Currently looking at most products around 6%. I'm guessing i'll be best fixing at 6% for a 2-3 years as the SVR could go up.
I think I have pretty much answered my own question just wondered what other peoples thoughts are?!
Thanks in advance
0
Comments
-
They predicting the rate will reach 6.25-6.50%, so mortgage rates will likely rise to 7.25-7.5% at a minimum for 2-3 year fixes. Not sure how long they will stay there - it's all about your attitude to risk and whether you value stability.2
-
What are the rates with First Direct for fixed deals? What ERC charges are there?MFW 2026 #50: £3,583.49/£25,00007/03/25: Mortgage: £67,000.00
Mortgage:
07/03/26: £34,418.15
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0000 -
Thanks for the replyMFWannabe said:What are the rates with First Direct for fixed deals? What ERC charges are there?2 Year fixed 5.56% no fee total over 1 year £76805 Year fixed 4.97% no fee total over 1 year £73922 Year fixed 5.31% fee total over 1 year £77935 Year fixed 4.86% fee total over 1 year £7577
I think the ECR on my current product is 3%0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards