Mortgages..........

[sammysam]

In May our fixed rate mortgage is up.....we are a bit worried as all the interest rates have shot up in the 18months since we sorted ours out. It was our first house and is quite small.....we were hoping to be able to move next year as i'm expecting a bit of inheritance in the new year. we just don't have enough space now
but are we crazy to think that we would even have a chance of moving with all the interest rate increases?
especially now that i'm a sahm now so we don't have my income?
Hope this makes sense

Thanks, Big Git Dad,

I am certain we are going to go with the 5 year fixed rate of 4.99% at a cost of £700.00, it is also an offset mortgage so any savings etc taken off total interest paid.

It seems to me to be the best deal at the moment, I can't find anything better.

That and the 10 year at 5.15% are on offer with First Direct, who we bank with.

We were with them before, but when we moved & doubled our mortgage I was on maternity leave & they would not lend us the extra money we needed. However, now I am back working part time they have agreed.

I am really pleased about this as I know they are quiet strict about how much they will lend & I think they seem to offer a good mortgage deal.

Thanks for all your advice.