Christian and Beccy

iTrader: (14)

So, what would you do right now??

Currently we're on the SVR at about 1.5% (Nationwide, can't remember without looking), however our Mortgage Advisor has called us this week to tell us that we should be considering a fixed deal soon as rates are on the up.

Best deal we've been offered, right now, is 4.4%. Do we take it or wait?

Opinions?

Dal_

iTrader: (2)

Rates on the up? Since when? It'll take at least another year for them to rise a whole 1% Best bet is to stay on the low base rate for the time being. (keeping an eye on the market and base rate possible rises)

My mortgage came off a fixed rate in May and I'm quite happy leaving it on base rate and not spending £500-£1000 on "arrangement fees" to fix it any time soon.

In my opinion anyway, and that's all it is - an opinion.

(For what it's worth I've done the 1st year of the Chartered Insurance Institute IFA course so I have at least some knowledge and background of the market http://www.cii.co.uk/cii.aspx )

But do take advice from a registered Independent Financial Adviser.

It's Czech Mate

I'd be keeping a firm eye on the market with a view to fixing soon, as soon as the rates look like they might go up the deals will be gone. I'd count your blessings, enjoy the luck you've had recently and find the best 5 year fixed you can, if you want to be sure of your outgoings, if you are more flexible with your payments then you can be more flexible with your mortgage

JohnnyB

I would fix mate, take the best deal at fixed do not go for more the 3 years though

It's Czech Mate

Having a wife who works for one of the largest commercial and private property compnies in the uk and in international company and seeing all of their internal forecasts etc i'd deffo fix for more than 3 years...........

Rodreguez

i jus got my mortgage done fixed at 4.5% best to do it before rates go up n they probably will in the next year or so! depends if u wanna move any time soon aswell

kevin

fIXED MINE LAST YR AT 4.75%
REMEMBER RATES WILL GO UP!!!!!!!!

foreigneRS

keep studying. you might learn that mortgage rates are not the same as bank of england interest rates. banks can increase them all they like, regardless of how low the boe stays

CliffRS4

iTrader: (1)

Why not get a mortgage promise as they last 6 months. Then it won't matter if the rates go up as you will have the mortgage promise

Psycho Warren

iTrader: (5)

are mortgage promises worth the paper they are written on in this current climate??

CliffRS4

iTrader: (1)

I'm sure that information will be available online or in the terms of the mortgage promise.

Get it in writing and you won't have to worry for 6 months

I had a mortgage promise from the Halifax for 6 months. Used it just before Easter