Mortgage scuff

[MortGauge]

I thought I’d switched to a mortgage rate of 4.3% a few months ago to start today but it turns out I didn’t actually finish the process.

My fixed rate of 1.3 finished yesterday but as I didn’t finish switching, does it now just become a variable rate? And with the news of interest rates dropping today, is it worth staying on the variable for a couple of months until the rates fall? I’m at work so can’t sort it out but stressing about what to do next

You need to check what your variable go to rate is, as sometimes it is very high.

How quickly you should move to a new rate depends on what rate you'll be on, compared with what you can get on a new deal. But also whether there are any reasons why committing to another fix wouldn't be ideal and also how long you have left on your mortgage.

But it can wait until you get home from work, or even your next day off work. Sorting a mortgage is rarely so urgent that the decision can't wait a few hours and it's not a decision that should be rushed either.