What’s your mortgage interest rate?

[Howworriedarewe]

Our rate goes up next year, we have the option of choosing the new rate now. It will go up by 0.5%, meaning an extra £85/mknth. That is not an insignigicant amount for us, but it seems like perhaps a good rate if we can hold it for a number of years. What is your current mortgage rate?

Interesting, quite jealous of those with under 3% rates. We have also been slightly overpaying on a relatively modest mortgage so hopefully that will buffer against some of the interest changes as they inevitably go up over the coming years.

1.34% ends next month.
Got a tracker for the first time at 4.38% for two years as I need to move in the next year or two but life has got in the way so need flexibility. I can withstand several rate rises before it gets to the fixed I was offered and before its unaffordable.

How does everyone just know this off the top of their head, because I have no idea?!

5.3% fixed for 5 years in 2024. We were first time buyers with a 5% deposit

Overpaying on that rate is insanity. Like winning the lottery and burning the ticket. A mistake that will cost thousands in lost interest profit.

3.76 fixed until 2031

Ours went from 1.2 to 4.5 earlier this year when our fix ended (we fixed again) 😬

0%. Paid ours off about a year ago.
(When we took our first mortgage out in the early 90s rates were about 13%!)

We are on 5.5% until 2028. Think we moved right at the peak of mortgage rates in autumn 2023, so hopefully it will come down in 2 years time. Our LTV was less than 25% and we aren't self employed, so not sure why our rate is so high!!

Ours was 0.99% 🙈 that was 5 years fixed (we couldn’t do longer at the time). New mortgage will be 4.99% 2 year fixed, though may still change before January when it starts. We’re hoping to pay off in the next 5 years or so anyway.

3.9% I think. Renewed just before the war broke out. Only went up by £100 a month so very happy with that. Fixed for 5 years.

Yeah handing the bank free money basically, imagine how much interest they’ll be making on the extra

5.3% fixed for 5 years. First time buyers, 5% deposit and we got this mortgage in August so could be worse. I

We’re also in the fortunate position of having paid ours off. We were on a very good deal at 2.8 % at the point our mortgage ended.

this has reminded me though of when we bought our first house back in the day, our mortgage rate was over 10%. That was on a 100% mortgage and then came the housing crash and negative equity. Grim times.

i also remember my sister who worked for a bank getting the staff rate of 5% and I even considered swapping my career for a bank job! Now we think of 5% as high but it honestly felt like she’d won the jackpot

4.49% until September '29. That's comfortable for us, and SIGNIFICANTLY less per month than our rent was before we bought.
We make over-payments whenever we can, and aim to make around 15 months of payments a year. We're hoping that'll help us when it comes to re-fixing in 3 years.

Interest-only! We have invested in other areas...

4.19% fixed for another 3.5 yrs

@Gengha @Bjorkdidit interested how you would make the decision at what's more financially savvy?

I make overpayments against a rate of 3.82%. We fixed in March 2026 for 5 years. I was hoping to really bring it down but now questioning if that's the most sensible decision.

You can make more money putting the extra into stocks and shares ISAs

Fixed until 2032 at 2.39%.
I don't make overpayment - the money is worth more in savings and S&S isas.

2.12% I believe. Definitely less than 2.2
We fixed for 10 years in 2022 luckily.

2.19% but 5 years is up next summer 😭

Even if you don't like the uncertainty of a stocks and shares ISA, you could still get a better return - completely risk free - in a fixed rate cash ISA.

2.19%?? Here I am thinking 4.50 for 10 years is a bargain...but honestly, what are the odds that the rates actually go down in the next ten years? I don't think we'll ever see <2% again.