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?

I have four years left on a five year fix at 3.92%. LTV was 50% which helped. I am not overpaying but I am paying what would be the overpayment (plus a bit more - basically everything I can spare goes into it now as my cash savings are where I need them to be) into S&S ISA. Then at the end of my term I will decide whether to pay a whack off if the renewal interest rate is high or keep doing what I’m doing if it is low.

no plans to move. Although this house isn’t perfect it is really lovely and we have an office room and a play room and it is very affordable. There are only two of us so we don’t technically need any more. However, there are some things I think would be nice to have - drive / garage, extra bathroom or downstairs loo, guest bedroom, better view (we live on the coast) but realistically I’d probably have to spend another £100-£150k to get the next property up plus everything else about having a bigger house will kick in and cost more so we are likely to stay here as long as it keeps working for us. I’d quite like to retire earlier rather than keep working to pay off a bigger house. That I certainly won’t need once DC has flown the nest and I’m alone.

By the way - great thread OP! I find it so useful to read what other people are doing and the things they weigh up / consider when making decisions. It sounds ridiculous to say Mumsnet has helped to financially educate me but threads like these really do give me food for thought and I go away and read into what others are doing a bit more.

We're currently holding an offer ay 6% for 2 years as we renew in Jan 27.

Our current rate is 5.8% however the new rate is a few quid cheaper a month than our existing monthly payment.