Mortgage Rates - Current situation

[Teebs]

Hi All,

We need to transfer a portion of our mortgage can now be re-fixed with Santander and we've been offered the following:

2 year fix / 2.69%
5 year fix / 2.79%
7 year fix / 2.79%

All with no fees. I've run a couple of comparisons and nothing seems to be coming out much cheaper. Very easy to stay with Santander and can accept the new deal online with no paperwork etc.

What's the current thoughts on mortgage rates?

Thanks all!

[okgo]

Obviously we would need to know the LTV, but seems you can get a fair bit lower than that on a remortgage in market. But if you have a small mortgage it may not make much difference - I'm seeing 2.47% with Lloyds for 5 years and 2.35% for 2 based on 60% LTV. 1500 quid setup fee, but for me that would still be far preferable over 5 years than what you've got for example.

[anonymous-user]

Currently got two mortgages at 1.6% which both expire at the end of the year. Really not looking forward to renewal time.......

[Teebs]

okgo said:

Obviously we would need to know the LTV, but seems you can get a fair bit lower than that on a remortgage in market. But if you have a small mortgage it may not make much difference - I'm seeing 2.47% with Lloyds for 5 years and 2.35% for 2 based on 60% LTV. 1500 quid setup fee, but for me that would still be far preferable over 5 years than what you've got for example.

Cheers, it's only around 40% LTV.

The actual amount outstanding is relatively small so a few % decrease doesn't make a huge difference.

[okgo]

Joey Deacon said:

Currently got two mortgages at 1.6% which both expire at the end of the year. Really not looking forward to renewal time.......

Can lock in a new rate next month though right? 6 month life on them...