need help - mortgage deals

kelz85

First time poster looking for a little bit of help from someone with more knowledge of the mortgage market than me (that wouldn't be difficult!)
We have a mortgage on our house at the moment, but due to baby No.2, we would like to move to somewhere bigger.
We would like to buy somewhere around £200k, with a deposit of £50k.
Im struggling to find any decent rates, does anyone know of any? I would like a fixed rate, Are there going to be any coming up or is this bleak financial situation set to continue for a long time?
We would like to buy somewhere bigger but maybe its best to stay put until rates go down or mortgage deals get better?
Any help, advice or thoughts would be great because im stuck on what to do for the best!

dwsjarcmcd

I guess it depends on what you call good, however, there are a couple of points for you to think about

1. What length of fix are you looking for? Are you happy to pay arrangement fees to effectively reduce the rate, if so to what level?

2. You need to be aware that whatever you are told today, it is very, very unlikely that the deals around right now will be available when you have sold your house and are ready to buy. They could be higher or lower

A personal opinion regarding the market, with the current conditions and lenders pulling out of the market, reducing their risk, they will look for decent returns rather than volume, so I wouldn't expect prices of fixed rates to drop much, even if the money market prices drop. As I say, only my opinion.

David