Fixed rate started have I missed the boat?

tarah101

A mortgage advisor found us a good deal and we moved from Halifax to HSBC a week and a bit ago. Our rate is 4.4% however now bank of England rates have dropped I am seeing deals for our mortage for 3.8% for us this would mean a saving over over £100 a month 🤦‍♂️

Is there any way I can get a different deal? Is there a cooling off period or is that us stuck on this fixed rate for 2 years.

Wish we had just waited for a little bit but mortgage advisor called us in January to start the process and was quite pushy, which is fair enough and his job but £100 a month is alot of money for us!

Thanks for any advice

Hoenir

tarah101 said:

Our rate is 4.4% however now bank of England rates have dropped I am seeing deals for our mortage for 3.8% 

Is this comparison being made on a like for like basis ? 

housebuyer143

You can't just switch now, there is no cooling off period. You would need to pay the ERCs. 
It's just one of those things, you fix and rates change. Not a lot you can do about it now. 

Edi81

If rates had increased would you be offering to pay more?
a fix is assurance that the rate won’t change for the set period - you win some you lose some.