Fixing price tariffs - energy, mortgage etc

(6 Posts)
Ticcinalong Fri 01-Feb-19 17:16:34

Is anyone else considering fixing tariffs to guard against price hikes in the near future?
Green energy is offering 2 years fixed gas and electric and is a much reduced rate than we have been paying with British Gas.
Mortgage a bit tricker as have a few months left on current fixed plan so would involve cancelling mortgage and taking out a new one which we are a bit loathe to do especially due to self employment which always makes mortgages hard work, but saying that I am going to look at it this weekend as we couldn’t afford a huge hike in our mortgage repayments.
Any other financial prep we should be considering?

OP’s posts: |
ClanoftheCaveBear Fri 01-Feb-19 17:54:57

Our mortgage is base rate (bank staff rate). We’re overpaying by 50%. Not sure whether we should look for a fixed as unlikely to get a lower rate than BOE base rate- unless massive rises predicted?

caughtinanet Fri 01-Feb-19 18:00:27

I've always had a fixed price energy tariff, I want the stability of set prices for a year, energy is likely to go up in the future so I'll be fixing again this year. Interest rates are a bit different as fixed rates will factor in expected rate changes so you get certainty but might not save money overall, in your situation in might be more trouble than it's worth.

Do you have savings? If so make sure you're getting the best interest rates, if you're not can you afford to start?

ClanoftheCaveBear Fri 01-Feb-19 18:04:07

Any recommendations for good savings accounts?
I have 3 that I need access to- 1 twice a year- tax, 1 three times a year - school fees and about to open another for a property that’s in trust.

Fleetwoodsnack Fri 01-Feb-19 18:07:45

My fixed term is up in July and I'm kicking myself for taking a 5 year fix on my mortgage. I'll take at least a 2 year if I can get it.

caughtinanet Fri 01-Feb-19 19:33:03

You can't beat money saving expert as a place to start for savings and loans imo @clanofthecavebear

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