Quick Mortgage Question

[Dan_1981]

I know this is a crystal ball type of question but....

Current fixed deal is coming to an end.

Mortgage is made up of two products at the moment from a single provider.

Sub account one: Variable at base +1.25%

Sub Two: Fixed deal that is coming to an end.

LTV is 51.08%

Current provider have offered me a ten year fix at 2.21%

This seems like a pretty good deal and i'm thinking of actual moving both accounts onto it?

Does this seem like a good idea?

[Chilly for June]

Whilst the 10 year fixed can look appealing you have to keep in mind how restrictive that product can be and how much could change in your circumstances between now and the end of the deal.

I'm a mortgage broker and happy to chat you through the pros and cons of the product and can give you advice if on the mortgage as a whole.

[Percy Cushion]

Dan_1981 said:

Current provider have offered me a ten year fix at 2.21%

Does this seem like a good idea?

As with any mortgage, as long as your income is relatively secure, I'd say take it. Interest rates are only going to go one way, and thats up. A ten year fix also provides great peace of mind.

[Douglas Quaid]

You will have a limit on how much you can overpay so if you're planning on getting it paid off asap you wont be able to do that.

[scottri]

Douglas Quaid said:

You will have a limit on how much you can overpay so if you're planning on getting it paid off asap you wont be able to do that.

That's not always the case. First direct allow unlimited penalty free over payments.