Remortgage now or wait couple of months?

kerryi27

Hi,
I am in the middle of remortgaging and due to complete in about 3 weeks. My fixed rate with halifax is up on 1st May and i owe £50,000. The payments will go up about £40.00 per month after this date which i can manage. i got a new deal with bank of Ireland at 5.99%

With all of this talk about banks reducing rates do you think i should wait, if so how long?

or because the loan is a small amount will it not really make much difference anyway.

Any advice appreciated

Thanks

sarkin

I would complete now, lenders may not pass the cut on and as you have said with a small mortgage like yours the rate cut will not be a lot. 5.99% is a good rate.

kerryi27

any other suggestions

motch

The 50 billion quid pumped into the system is more to stimulate banks lending out more mortgages rather than actually reducing the rate. So i don't think waiting a few months will bring it down much if any. just my thoughts