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Mortgage Rates Dropping - Wise to fix now? What are you doing?
IAMIAM
Posts: 1,432 Forumite
Currently have 4.24 Tracker, 18 months to go. HSBC. Soon to be 3.99 after BOE cut. 200k @ 25 years
Would you switch to a 3.8 fixed now available with HSBC or stick with tracker? I am anticipating it going to 3.74 early next year after another cut?
Would you switch to a 3.8 fixed now available with HSBC or stick with tracker? I am anticipating it going to 3.74 early next year after another cut?
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Our current fixed ends in May 2026. We are currently on 1.59%. 😬 We will wait until Feb/Mar before making a final decision but we are leaning towards fixing for 2 years.2
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What does the maths say and how much sensitivity analysis have you applied?IAMIAM said:Currently have 4.24 Tracker, 18 months to go. HSBC. Soon to be 3.99 after BOE cut. 200k @ 25 years
Would you switch to a 3.8 fixed now available with HSBC or stick with tracker? I am anticipating it going to 3.74 early next year after another cut?
Your life is too short to be unhappy 5 days a week in exchange for 2 days of freedom!0 -
If you stay @ 4.24% until the next meeting (Feb 5th), how much would you have spent extra compared to fixing now at 3.8%? Also what happens if the rate on Thursday drops to 3.99%, how much would you have paid until Feb 5th by not fixing?
I don't see 3.8 as the greatest rate in history to rush for it, but it is all relative to the cost.
As to what I'm doing, I'm keeping my tracker until I pay my mortgage because all I care about is the overpayments.I'm FTB, not an expert, all my comments are from personal experience and not a professional advice.Mortgage debt start date 11/2024 = 175k (5.19%)... Q1/2026 = PAID (3.94%)0 -
Well I have moved to 3.99 which is great0
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We're alike. Our Santander mortgage is up for it's renewal in Mar 26. We are currently coming out of our 5 year fixed @ 1.79%. I'm leaning towards a 5 Yr fix again. Today's offers are 3.76% with the fee added on or 3.91% wi5h no fee. There's only a fiver between them. Am checking each day to see if better offers drop in. With no information to go on, I "feel" to hang on until the new year...booksandbikes said:Our current fixed ends in May 2026. We are currently on 1.59%. 😬 We will wait until Feb/Mar before making a final decision but we are leaning towards fixing for 2 years.1 -
There has been a rate war every January like clockwork with all the main mortgage lenders for the past 4 years1
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Our current mortgage rate of 2.3% ends in May 2026.
Bad timing on our part as we are in the process of moving house and the estimated completion date is March 2026 so we will have a small early repayment charge but we have factored that into our costs.
We will be taking a 5 year fixed rate to give us some certainty of what our repayments will be while we settle into the new monthly money routine. The rate we are expecting is 4.1% but we are happy with that.1 -
I see on Santanders' website they will apply the 0.25% cut on January 3rd 2026.0
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