What % interest are you paying in your mortgage?

[Investmentadvice]

And is it fixed of variable and how long for?

Thinking that we may be paying too much? We are on 5.8% fixed for 2 years recently with the hope we can pay early. I guess we are committed to that amount now a we fixed it.

4.3% . I bought my home in August last year. Fixed for 5 years.

2.24% for the portion I fixed for 10 years while everyone laughed at me for being risk adverse. Made sure it was portable. 4.14% fixed for five years for the extra borrowing when we moved. Applied for it about march last year and moved in the June. We have a decent LTV. The 4.14% was worth fixing for five years as the break out penalty is not too bad

We hit the sweet spot when rates dropped to their lowest during covid turmoil and managed to bag 0.99% for 5yrs, we have until Dec 2026. The ERC is 5%.

We're dreading the increase tbh and based on today's rates our SVR would be 8.25% and our monthly repayment would go up £400. We are saving in 5% ISAs to pay off a lump sum at the end of the fixed term. If we are super frugal until then, we could be mortgage free.

2.69% fixed sept/oct 22 just before the rises. Hoping things are more like 3-4% in 2027 although overpaying and it will be just under £45k then.

Yes I know there are better financial decisions than overpaying directly etc but we bought later and I want it done and dusted for the security before I retire after seeing my dad struggle with renting

Recently fixed at 4.99.. ouch!

2.65% fixed until July 2027 - we booked a 5 year fix then watched as rates rose, Truss happened and finally completed in the December with noone in our chain daring to rock the boat as we all had much better rates other than the seller at the top of the chain who behaved like an arsehole but didn't need a mortgage as downsizing.

What are you trying to get from this post OP? There is a huge variety of rates "on the go" at the moment because the rates have been all over the place for the last few years. You will be tied in to your current fixed rate and the details of the ERC due will be detailed on the paperwork from your broker, specifically the KFI she/he will have given you. Only you can decide whether its worth it to you to pay and try and get a lower rate, which I doubt it is.

You will likely be able to make overpayments of 10 or even 20% of the balance without penalty though, this will also be detailed on the paperwork.

1.4 % runs out mid 2026 but we are overpaying with the hope of paying it all of by then. We purchased the house in 2018 fixed 3 years at 2.69% and fixed for five years in 2021.

1.7% for 5 years, fixed just before rates went up and will be able to pay the rest off at the end of the 5 years. Could pay it off now but we are getting more in interest on the savings.

We were incredibly lucky, and also I insisted on a 5 year fix when mortgage broker and DH were thinking they would do a 2 year and see what happened.

I wasn't being particularly financially savvy but I just wanted certainty.

4.15%, purchased in Aug 2023. LTV 27%, fixed for 2 years.

SVR 8.24%. Fixed rate ended January and now we’ve only got a few payments left before mortgage finishes!

4.85% on a 5 year recent fix... on the fence as to whether it was a good move or not, but at least know what the monthly payments will be...

1.91 fixed for another 3.5 years, luckily!

It’s difficult. We were very conservative when we bought the house (my Dad is alway banging in about 12% mortgages) and due to my Mum’s death we’ve inherited enough to pay off a chunk of capital so it hopefully won’t go up too much.

not long fixed at 4.84% for 2yr held out as long as possible to fix, so have that till 2026. Previously was on 1.63% it’s gone up about £350 a month eurgh

1.44 pc til Nov 2025. Bank says the SVR is currently 7 something percent!

Had to renew in October just there, went from 1.something% 5 year fix to 5.49% 2 year fix 😅 (65% LTV). Could have gone onto a tracker which in hindsight would have been better, but didn't have a crystal ball and wanted certainty over risk as although it was a big hike, we could afford it whereas at the time there was a lot of speculation about things getting even worse.

The silver lining I'm focusing on now is at least whatever we go onto next probably wont be as bad so I can look forward to the next renewal instead of dreading it 😂

Yes this. None of this is relevant about rates available to you now, at your LTV. It's rarely better to pay the early repayment charge to save interest (especially on a short fix) and rates haven't drastically improved either for this to be worthwhile.

Our mortgage was fixed pre Liz Truss, I could tell you the % but it's not available now so not relevant, we would be paying a much higher amount now.

Your early repayment fee will be outlined on your mortgage offer, it's usually a % of your opening loan value. Maybe around 2%.

Speak to a broker if you need advice relevant to you now but realistically worry about it in 2 years when your deal ends (or 6 months before).

1.6% 5 year fix with 3 years left. Struck lucky for once!

4.25% until 2029 - we were on 1.99% for 5 year prior and we played chicken with interest rates to renew at the last second.

Went onto to new 3.74 5yr fix a week ago. Miss my old 1.99 but grategul it's not over 5%!

Thank you. It varies a lot. Depends on when you fixed. Wondering if interest will go up or down? We will be wasting about 7k on interest in 2 years but no much we can do now do better don’t think about it

We had 1.15% before; can’t believe we didn’t fix it longer with such a low percentage. We did pay more when it ended and before fixing it again but even we half a debt we are paying more than double on interest

1.74% on a 5 years fixed rate, still got just over 3 years to go. Repayment charge £6.5k

4% fixed in Nov for 5 yrs.
Out of our friend who discuss mortgages ours is one of the lowest of those who have fixed since post covid interest rate climb.