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Beginner September 2008

Any mortgage gurus about?

Mattdonna, 13 April, 2009 at 10:46 Posted on Off Topic Posts 0 2

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Our fixed rate runs out in May and we have had an offer from our current provider. We have been offered a 2 year fixed rate of 3.99%. The switching to a tracker at 1.49% above base.

Im not sure if this is a good deal or not considering some of the rates about are lower. Although the are not charging us any arrangement fee so that saves us at least £995.

So HRML - would you accept this rate???

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Latest activity by safetyzone, 13 April, 2009 at 11:58

Beginner September 2005
Gingey Wife · 13 April, 2009 at 10:50
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Not in the UK so not fully up on mortgage rates etc but find out what rate you would be on if you didn't fix. The provider will have a base rate mortgage that will be x% above the BoE base rate.

We went on to that when we came out of our fixed because we wanted to overpay large amounts and it just wasn't possible any other way.
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Beginner September 2008
Mattdonna · 13 April, 2009 at 10:56
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Thanks GW,

See thats the other problem, I should have mentioned that we will revert to 1.95% tracker. (obv, depending on the BOE base rate) The only thing Im worried about is not fixing now and there not being any offers around then. (end of May)
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safetyzone · 13 April, 2009 at 11:58
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I was told that if you want a fixed rate now you should consider a 5 year. I think A&L does a 5 year fix at 3.95% but that depends on your LTV ratio too. Have you checked out a mortgage comparison site? Otherwise tracker rates are sub 3% at the moment (again, dependent on LTV).
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