Grab a new deal now or Feb ?

kingrollo

I currently have a discount deal with brittania (5.9%) - which ends next feb - but there are no tie ins - so I could move now if I wanted.

Brittania have have advised me to wait - as the products on offer will be totally different come febraury.

I will shortly be moving into lower paid employment - so think that a fixed deal will be best for me next time - and there are some reasonable fixed deals about now - should I grab one of these now - or wait until Jan /Feb

homer_j_3

Crystal ball scenario as nobody will really know. However, if your income is going to drop and it is unlikely that you will be able to get a new deal come feb then you are right to be thinking about it now.

It may be the case that your current lender can offer you a deal again in february and you have to realise that their comments are saying "keep your mortgage with us as we profit from it". The questions, you need to ask is how do they know that they will be able to offer you a better deal come Feb? The honest answer is they nor I can say for certain whether you will be better off in Feb or not.

My personal opinion would be that if I can be certain of being in the same property for a good length of time, then now may be a good time to do it, however, you do so knowing that your reasons for doing it were not to get the cheapest deal now but to secure your mortgage before income dropped to ensure you could get a deal which meant you were comfortable for the forseeable future.