What is your current mortgage rate...

financialbliss

Thought this may be interesting to do as a poll. If you're in either extreme, eg < 4.00 or > 7.49, you may want to give your rate.

I'm part way into a 5 year fix at a rate of 4.79% This followed on from a 2 year fix, also at 4.79%

In hindsight, I think this was a good decision rather than go for shorter terms and pay arrangement fees.

Looking forward to some votes and replies...

FB.

SunnySusie

my 2 year 4% deal just finished. Walked into my lender and they pulled out an unadvertised fee free deal at just over 5%. I said thanks very much. Fixed for 5years this time. Wish id done 5 years 1st time lol but I guess I didnt appreciate how low rates actually went back then.

Lower house prices mean nothing if you are paying the same because IRs are more expensive. Ah well, at least next time I remortgage Ill have paid most of it off! Phew!

abouttimetoo

Hi FB

Good one. (ooh, a poll, never seen one on here before but they are popular on some other boards). My interest rate is whateve base rate is, therefore, at present it is 5%

Yes, I agree, it looks like you made the right decision when arranging your terms
Regards

lv1109

I am fixed for 2 years (since June last year) at 5.64%. Not too bad given the current climate - also was a (totally) fees free deal so no arrangement, valuation or legal fees. I sometimes think about fixing for longer but then I feel cheated if the rates get better. Might be stupid but time will tell!

Welshlassie

Just started (Feb 08) a 5 year fixed deal at 6.39%. Would have loved to be on a lower rate, but had to stay with IF as only had one salary coming in and they didn't need to go through the whole application process again.

A lot higher than we wanted by needs must. At least we are getting on to Over paying it so we can bring the term down next time around.

wymondham

One Account pay me 1.5%

Dithering_Dad

I have a discounted three year deal with Standard Life. When I arrange it, the discounted rate was at 5.3%, but as the BoE put up its rates, so did Standard Life - to 5.75 at their highest. The BoE rates have now fallen back to where they were when I first arranged my mortgage, but the Standard Life SVR has remained at 5.75%.

I'm 1 year into my 3 year mortgage repayment challenge. My circumstances have changed so I won't be able to pay off all of the mortgage before the doscounted rate ends, but I will hopefully have paid off two of my three mortgage accounts.

I'll then see what deals are available and sign up to another 2 or 3 year deal and continue to blitz the mortgage until it's gone.

Snaggles

I had a 5.99% fixed rate which ran out almost to the day that the svr finally sneaked up to 6% (and I'm a mortgage underwriter...:o....oh the shame....). I'm now on a better 5.49% for another 3 years, which covers the period until my daughter starts school and I can increase my hours.

I'm hoping to get the mortgage down below £25k in that time, although that might change if we move house before then.

SuiDreams

Currently have a rate capped at 6.49% for 4 years but 1% discount for 1 year currently 5.45%. Didn't have much choice when I remortgaged, as Mortgage is quite low, and was at the Minium lending fee for most competitive mortgage rates

jamtart6

I am mortgage free......because I am a FTB! so i have no idea about rates...yet..can I be really thick and ask why some would go for a rate of 7% when majority are on 5%?? Sorry for the dumb question, I have no clue!

Welshlassie

jamtart6 wrote: »

I am mortgage free......because I am a FTB! so i have no idea about rates...yet..can I be really thick and ask why some would go for a rate of 7% when majority are on 5%?? Sorry for the dumb question, I have no clue!

Because you get what your offered in some cases.
It depends when you took you mortgage out, what the current deals were, your circumstances eg you income, the size of the mortgage etc, your LTV

All these things can have a bearing on what rate you are offered. HTH