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Remortgage Advice Needed

13»

Comments

  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    herbiesjp wrote: »
    In fairness - he could have meant lenders increasing their rates and not BoE - which they have been doing for a while now
    But that still doesn't explain why the banks have lower fixed rates than variable rates. That must be because the banks think _their_ rates will come down.

    Or is the point that the broker thinks the fixed rate currently on offer is soon to run out, to be replaced with a higher fixed rate?
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    JimmyTheWig wrote: »

    Or is the point that the broker thinks the fixed rate currently on offer is soon to run out, to be replaced with a higher fixed rate?

    In the current climate I think this is more the rationale.

    But not only fixed rates - tracker rates as well, are being repriced with higher margins above BoE.

    SOme lenders are stopping to sell SVR to new clients as well
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    herbiesjp wrote: »
    SOme lenders are stopping to sell SVR to new clients as well
    Ouch. Am so glad we got a 5 year deal when we did...
  • captain_scott
    captain_scott Posts: 13 Forumite
    Try L&C on this site. They did me a fantastic deal with no fees.
    :mad:
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