Mortgage Question - Is anyone paying cheaper than 2.5% variable rate?

[mullercorner]

I was on a fixed rate for 2 years which is now finised.

It is cheaper for me to stay on the company's variable rate as it stands at the moment at 2.50% - there are no incentives to go on a fixed rate at all.

Anyone else paying any less than this %.

i know RBS have told us variable rate is 1.6%, our fixed rate is just coming to an end.

We are now paying the tiny 1.5% with First Direct.

I would have thought the obvious incentive is that if interest rates go up a bit then it may be cheaper in the future.

Remember that a lot of the ridiculous cheap deals (I am on 0.75%) are no longer available.

Of course interest rates may not go up at all, and in which case you will be quids in.

I recently added another mortgage from the same cmpany to the existing one I took over from DH. The existing one is now variable at 2.5 % but there were no variable deals for the other so am on 4.59% for 2 years for that. Just glad to have it all sorted and know what I will pay. Don't think you will get a better deal elsewhere at the moment.

mortgage is fairly small with only 10 yrs left so will keep an eye on it and just stay put

We are on less but it is a discounted variable. That runs out in December. From then the reate will be 2.5% at current market rates.

I'm paying 1.5% with First Direct on their offset mortgage. We took out their standard deal which is SVR = base rate plus 1%.

Ours is 1.6% with Direct Line.
SVR - Base rate plus 1.1%

We defaulted onto this rate when our fixed discount came to an end.