Fixed mortgage coming to an end

AlfieIzzy

My hubby and I have a mortgage for 10 years which is coming upto five years May 2026, this part is fixed rate, we have a lump sum which will clear half of the remainder of the mortgage but wondering if it's time to look at another fixed for the remaining mortgage (after the lump sum as been paid) 
Any advice would be greatly received 🙂

Jemma01

Do you want to include your numbers?

The amount left to he paid, your savings, the LTV value, the interest you're on now, and the fixed rate interest you're shopping for and the duration of the potential fixed rate.

Are planning to go on a tracker or variable rate if you don't fix?

AlfieIzzy

Hi Jemma01, thanks for replying. So, the balance will be approx £67000 by May '26, we have savings of £36000 to contribute, not sure what you mean by LTV value, interest at the mo is 2.4%, as low a rate as possible in the current climate, and 2 or 3 year fixed rate, am thinking tracker if not fixed.

amnblog

You are still three months away from taking any practical steps here.

RedFraggle

AlfieIzzy said:

Hi Jemma01, thanks for replying. So, the balance will be approx £67000 by May '26, we have savings of £36000 to contribute, not sure what you mean by LTV value, interest at the mo is 2.4%, as low a rate as possible in the current climate, and 2 or 3 year fixed rate, am thinking tracker if not fixed.

LTV is the loan to value percentage.
Loan = mortgage amount needed
Value = value of your house.

LTV = Loan/mortgage x100

So if you want to borrow £150k to buy a £300k house your loan to value is 150/300 x 100 =50%