At what mortgage rate are you now?

[WakeMeFriday]

Our 5 year fix for mortgage is coming to end in Dec and we are at 1.6% right now. We have a good LTV, around 45% remaining mortgage on the house value.
We have been looking around and the best rates we can find are around still at 3.8-3.9%.
If you renewed your mortgage recently, what rate are you on at now?

I’ve just looked at the revert rate with the lender I’m with - adverse lender and it’s 8%
definitely contracting my broker! They’re hopeful I’m back to normal rather than adverse lenders shortly… if I can get under 5% I’ll be happy

We went from 1.8% to 5.4% a couple of years ago. Due to remortgage again soon.

We are due to come off a 2.3% interest only in September so thinking we will go on the flexible rates for a while and see where it lands. Then fix for 5+ we have 12 years left to pay it off. 🫣

3.8%

Currently on 1.49%, which was fixed for 5 years in October 2020. It's coming up for renewal soon (as you can see) and I'm not looking forward to it!!

Fixed in July 2022 for remainder of term at 2.79%, just in time to land it before the Truss madness.

Just fixed for 3 years- 4.14 - no fee. You’ll be lucky to get much under that. Under 4 is possible but probably with a fee.

Did a 2y fix in Dec 2023 for 5.94%. Approx 58k left on the mortgage with about 17y left and 44% LTV.

I'm hoping for anything lower than 5.94%!! I've made about 1k worth of overpayments since I last fixed too.

Just coming out of a 2 year fixed at 5.5% I think. We renewed a couple of months after Truss tanked everything. New 2 year fixed I think will be 3.9% unless the rate drops further in the next month or so. Currently about 65% LTV

I feel like everyone is coming off rates and about to face their mortgage going up whilst ours will be going down. I won't lie it went up by £400 and although affordable its been a long two years of restricting spends to afford it.

I'm looking forward to having the disposable income again to get house renovations done that have been put off

We have fixed with existing lender at 3.87%. they have agreed that we can change it to a cheaper one before Nov, if anything less comes up but looking at the projections, seems its going to go up a bit this year.

I got 1.9% on a 10 year fix at end of 2021. Probably the best financial decision I've made!

Amazing, happy for you. We are almost going to make this decision in 2020 but DH thought it was high. Don't know what he was thinking!

We are almost going to make this decision in 2020 but DH thought it was high. Don't know what he was thinking!

Sorry that is annoying. To be fair it was double the 5 year fix rate and our mortgage broker told us we were being stupid. He emailed to apologise a few months later!

Typo, we were*

5 year fixed at 2.19% ends in April. I’m very nervous, even though it’s a very small mortgage.

1.18% until early next year. Going to make a 40-50% overpayment when the fix ends, that cash is currently earning a much higher interest rate in an ISA.

Should have it paid off completely in the next 5 years or so.

I was on a 5 year fixed of 1.99% until June 2024. I then refixed for 5 years at 3.49% which was good for the time but my payments more than doubled as i'm interest only.

Current rate is barely anything, but the fix ends next year and goodness knows what it will be by then 😩 We have a good LTV and are lucky enough to have savings so can pay it down a bit to reduce the monthly shock, but it will still sting a bit.

I was only a 5 year fix at 2.09%. Wish I'd fixed for 10! Now on 4.36%. LTV is around 55%.

I don't think much is going to change for next 10-15 years, except for maybe third world war. If its really important that it doesn't go up then worth a fix. I can't see any reason for them going down much.

After that I think they may drop when AI takes over everything and we see another economic boom. Just crystal ball gazing though.

5.2 after fixing for 2 years. Hoping to renew at around 4.

We took a 5yr at 3.91% in September. Coming off 1.79% & a 3yr deal. We were taking another 3yr deal right up to the last minute, but decided the risk of the rates going up would be far more impactful on our plans, than them going down. And they’d have to go down quite far quite quickly for that to be a bad decision.
Plus, we reflected on what an ache it is to be faffing with a mortgage every few years & agreed that if rates drop, it’s the premium we pay for ignoring the problem 😂
We’d been overpaying so technically our monthlies haven’t changed.

This is interesting to see. Our 1.6% fix ends in November this year. Hoping rates go down in August so we can get a rate under 4%. Really low LTV as mortgage should be paid off in 2027.

1.18% ending Aug 26 😳

3.44 but we are 3 years in to a 5 year fixed

We've only got £95k left, on a house valued at around £450k.

We just switched in June to 4.3%, up from a low interest rate of 1.2ish%. We've gone for a 5 year fix. This is with HSBC, who we've always banked with.

It's only added about £70 a month to the mortgage payments.