Are you a mortgage tart?

[Twiglett]

cos I'm not

but feel I should be

I have a fixed rate recommendation in my hand .. looks like we'll save about £2K over 2 years should interest rates stay the same as today

we're currently on a good tracker deal.. so BoE would have to drop .75 in next 2 years for us to start to lose money .. is that likely?

why am I dithering? can you give me a push please

How much will it cost you to swap? Both financially and the hassle of completing the paperwork? If mortgage is with different lender then you'll have to sort all sorts of crap out.

Personally (and i'm lazy) if you're on a good deal at the moment i'd stick with it until the end of the deal then negotiate another good deal.

And with a fixed rate deal you always have the possibility that however good a deal you get at the end of the term it could be a big jump (if interest rates increased substantially).

I think it totally depends how much you value the security of a fixed rate. I have only ever had fixed rates as I really like to know that I can work out my finances over 2 years or so knowing that my biggest outgoing is fixed.

We always have been - flitting from fixed rate to fixed rate in a most fickle manner.

DH being on contracts rather than salaried means we're never 100% sure of our incomings so find it much easier to know how much is going out each month rather than have variables in both income and outgoings, even if it means we pay over the odds occasionally.

BUT I'm thinking about going for an offset deal next time which may or may not be fixed in the hope that we can get the mortgage paid off a little sooner, still have 24 years and 2 months left on this one as took out a new 25 year term when we moved.

My own experience on these has been that they are usually priced fairly accurately especially by the time you price in any fees (usually the bank agrees to cover your legal fees within its arrangement fee). There is always he odd bargain out there though if you can get it but watch out for what happens at the end of the fixed period.

The interest rate was 4.5% for most of last year (in fact has only been above this since October?). Dunno, haven't researched it but the general reporting seems to indicate that if you can fix at 5.1% or below then it is worthwhile.

I am a mortgage tart ! Last time round we fixed having had a tracker and seeing ours going up a fair bit over several rate rises. We are going to fix again when this one is up in August as I personally feel there that there are increases ahead. But I expect to be paying more this time round as the rate has risen since we fixed. We have a good broker who sorts it all out and gets the best deal taking into consideration not just the rates, terms etc, but looks at who offers things like free conveyancing, and the rest of the costs.

I am

no fees to change .. £245 to get out of current deal .. redemption penalty only for 2 years of fix .. then can swap again

at end of 2 years would have to change again the leap would be horrible

arggghhhhh .. should we? should we?

but if BoE goes down again I'll sit here thinking arrrgghhhh bugger

You wouldn't ahve to change at the end
you could go onto the SVR which might still be ok

It is not much hassle to change tho

I wanted to change last time but didn't because now I'm working part time our income was so much less I didn't think anyone would give us what we needed. How does it work? Are you allowed to work on your previous salary?

have joined the ranks of tart-dom is seems

NOW watch BoE rates drop like a stone