reasonable mortgage rate - fixed for two years and what's teh thinking on whether rates are going up or down???

[jeangenie]

we've been offered 5.49% but with whopping £1,499 arrangement fee (which broker says we'd recoup in savings against current variable rate over those two years and savea nother £1k too)

am thinking of going for it

haven't been apying attention to rates lately - are they going up or down? what are the predictions for future?

we don't have to remortgage til current fix ends (4.49% BOO HOO ending next feb)

thanks for any thoughts - am in a right old muddle

Be careful with the mortgages which start at the lower rates. There may be a staggered early repayment fee (i.e. 6% in the first 2 years, 1% 2 - 5 years). C&G call them 'shock absorber mortgages'. The Co-op one looks good, but isn't on their website (not that I can find)so you might have to speak to the website people (I registered with them and they called me back in minutes) and the Brittania one is quite appealing as is over 5 years.

I mean the Mortgage Finder people, not Co-op.

thanks will try them

jeangenie if you want to speak to an advisor my dp advertises on here and has done mortgages for other mnetters he independant socan search whole of market email me on [email protected] and i will give you details

Read in the paper at the weekend that if you can hang on for a few months to refix a mortgage then wait. Interest rates will go down again early next year.

have just been advised that the rate has gone down to 4.99% fixed for two years now - am very tempted (but still massive fee to set it up)