Mortgage fix now??
Discussion
a lot of it is guesswork isn't it? using nationwide's house price calculator thingy, and putting in buy price and mortgage valuations, it could be 73% LTV now, and assuming a £5k rise in prices by end of year (complete finger in the air there really, walm is sure to guffaw) it could go to 71%. So, maybe i've answered my own question, that even being optimistic i'm not passing any threshold values where significantly better deals can be had (probs < 70%) so maybe i am better just fixing now. Whether it's wise to fix at all, as the missus is considering a move in the next couple of years (note I didn't say "we").
So, perhaps the question should be: is a shorter fixed deal even a good idea in this circumstance, or would a tracker be a better idea? The latter assumes that the rate rises would be relatively modest over the next 2 years. Clearly no-one can predict the future but we're not exactly showing signs of hyper-inflation just yet...
walm, you seem to know what you're on about, but i'm afraid i have no idea what you're on about! I am presuming you are discussing illmonkey's situation?
So, perhaps the question should be: is a shorter fixed deal even a good idea in this circumstance, or would a tracker be a better idea? The latter assumes that the rate rises would be relatively modest over the next 2 years. Clearly no-one can predict the future but we're not exactly showing signs of hyper-inflation just yet...
walm, you seem to know what you're on about, but i'm afraid i have no idea what you're on about! I am presuming you are discussing illmonkey's situation?
sure nuff the only deals available to me on moneysupermarket are 75% LTV ones so there would need to be a fair house price rise between now and Nov in order to breach 70% and get the next step down. If prices rose that much though, it would indicate a real need to fix I'd imagine, based on my pop-level economics knowledge as it would potentially go hand in hand with rocketing inflation? Anyway, fixed or tracker seem to be available under the 2% mark, with terms around 2 years. Presents quite a saving over what i am paying currently.
Sorry for the idiot question, but do you sign up to a given period with a tracker or can you bail at any time?
Sorry for the idiot question, but do you sign up to a given period with a tracker or can you bail at any time?
fixing as low as possible is clearly always a good idea, but only if you definitely know your circumstances won't change so as to require redemption during the term. I have been able to say that each time i've remortgaged until this time.
i could overpay but i am saving for a wedding at the mo.
i could overpay but i am saving for a wedding at the mo.
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