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
Fixed rate coming to an end - advice please
always_skint_3
Posts: 9 Forumite
Hello,
Our fixed rate is coming to an end in 3 months and we are now in a position that we can re-fix our rate.
We have to stay with our current provider (Nationwide) as we would not get a mortgage with anyone else as I am now a full time stay at home mum and we only have my husbands salary.
We have been offered 6.18% for 2 years with £499 fee or 5.83% for 5 years again with a £499.
Hopefully, we plan to move to a bigger house after 2 years once I return to work and wondered if you thought it was worth going with the lower rate and taking mortgage with us in a few years or taking 2 year rate and moving once this comes to an end.
Any advice would be great.
Many thanks
Our fixed rate is coming to an end in 3 months and we are now in a position that we can re-fix our rate.
We have to stay with our current provider (Nationwide) as we would not get a mortgage with anyone else as I am now a full time stay at home mum and we only have my husbands salary.
We have been offered 6.18% for 2 years with £499 fee or 5.83% for 5 years again with a £499.
Hopefully, we plan to move to a bigger house after 2 years once I return to work and wondered if you thought it was worth going with the lower rate and taking mortgage with us in a few years or taking 2 year rate and moving once this comes to an end.
Any advice would be great.
Many thanks
August Grocery Challenge £98.47/£200 :j
0
Comments
-
i would take the 5 year fix at 5.83%, and take it with you if you move house.
things look uncertain to say the least with mortgages, you would have peace of mind and security for 5 years.0
This discussion has been closed.
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
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards