11
Sun, 18th Oct 2009 |
nibbles
| 4,662 Views, 3 Votes.
Voting Closed on: Wed 18th Nov, 2009
Sun, 18th Oct 2009 |
nibbles
| 4,662 Views, 3 Votes.
Current Mortgages
To Fix or not to Fix? That is the question! It is so hard to know what to do for the best, which would you choose and your reasons why.
| Fix for 3 years | 0 |    | 0 % |
| Fix for 5 years | 1 | | 33 % |
| Tracker | 1 | | 33 % |
| standard variable | 0 | | 0 % |
| Other | 1 | | 33 % |
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dont fix, the market is all over the place. If interest is to high you can move your mortgage.
Nod+ (0) | | |
I wish people thought I was Misshaps twin because of our brains not our looks! This is all really interesting, but I am still unsure, such a hard decision.
Nod+ (0) | | |
Sorry, I meant when comparing whether to go for a 2, 3 or 5 yr fixed! but know what you mean. I'm debating at the moment too. Half my mortgage is up for renewal but would only want 2 year fixed as would then consolidate with other half, and just can't decide whether to take the risk and go variable (which I've never done before!) or do another 2 year which isn't amazingly low anyway!
Nod+ (0) | | |
Thank you for your help, the problem is Mh is trying to pre-empt what the Torys will do with the rates, I have a feeling they will not hold back so more expense now could save in years 3,4 and 5? It's all a bit of a gamble which is a scary place to be for a non gambler! But i so don't want to get it wrong!
Nod+ (0) | | |
I think it very much depends on how much you are borrowing and what the fee is and then compare interest rates for the different fixed terms - means doing a bit of maths. If you haven't got a large mortgage and the fee for a 2 yr fixed is £1000 or so, it can be more expensive than the savings!
Nod+ (0) | | |
Sorry - cannot help you with this one nibbles - I have no mortgage as I live in a gypsy caravan!
Nod+ (0) | | |
There is no way they will get much lower, otherwise they will be paying us to take out the loan! I would say fix at this rate (If you actually can) but please don't quote me and seriously check the small print.
Nod+ (0) | | |
I chose not to fix a year or so ago and as my mortgage is interest based, I'm now paying about a third of what I was a year ago. Fantastic. Of course it will start to go up again as interest rates start to rise again, but I've had a great year with it. I actually know bugger all about it but just telling you my experience. My instincts tell me that if the rates are about to go up again, now might be a time to fix. Is that how it works??
Nod+ (0) | | |
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