Mortgage question

[Firstshoes]

Can anyone help? I am in my roll off window with my lender as I have 4 months left on a 5 year fixed. I can reserve a new deal now. My question is if rates drop can I reserve a different new rate and if so how many times can I do this before my original 5 year fixed deal ends? Thank you!

Yes you can lock in a rate and then switch to a lower rate if they drop before the date your current product expires. I don’t know how many times you can do that but they won’t change very frequently so I can’t see this being an issue.

My broker does that for me. It might be worth using one to save the hassle

I'd use a broker and lock in. Although I did that thinking rates would drop and they haven't! That was in September and I complete Monday.

Thank you for the replies. Really helpful. Gutted to be coming off a 1.6% fixed though😭

I'm in the same position. Going from 1.7 to 4.3.

Awful.

I would wait a couple of months.