Mortgage/re-mortgage

[UnionGlassCloth]

What's everyone doing? I'm going round in circles.

I'm just inside my 6 month window on my existing deal and have a five year fix offer at 5.74% (£300 a month extra) and lots of other options from my existing lender incl trackers etc..

I think I'm leaning towards the surety that the fix offers but a fairly clued up acquaintance is not fixing, reckons that rates will drop in late 2023 and I'll be stuck paying more for nothing.

We are with Natwest, 1.79% fix ends 30th April. We can product transfer and fix at 5.5% for 5 years. We can’t change mortgage provider for another 18 months as we need childcare to cease as otherwise our affordability looks shit. Ideally we will fix for 2 years until DD at school and then remortgage and look for best deal across the whole market but I’d fix for 5 if the rate is good.

I think we are going to hold our nerve a while longer. I’d fix at 4% or less but I think 5.5% might be higher than it needs to be. I’m under no illusion we will get under 2% again but I think under 5% is more likely.

Following

NatWest have withdrawn their tracker range. To be re-introduced apparently.

Just switched my two year deal of 1.99% to a 5 year fixed rate at 3.99%. I'm aware rates are likely to fall but I'm very happy with the rate and happy to have the certainty for that period of time. Yes they. Igbo go down but they could also rise again too, No fees so very simple.

Same here. Fix finishes at the end of this month. Secured a rate around 6 weeks ago at 4.14 for 5 years, but have cancelled and reapplied today to secure 3.99 for 5 years.

It’s possible rates will come down sooner, but I wanted to feel secure in what I’m paying for the foreseeable. If I’m able to at any point, I will make overpayments.

I now need to tell my brain not to check rates for a while. Decision is made, move on!

My fixed rate mortgage comes to an end in 6 months so have booked an appt with mortgage broker to discuss options. I am dreading it as I live alone on small income. My Octopus bill this month was bloody ridiculous too - considering I am hardly using any gas or electricity - washing machine once a week, one or two light bulbs plus phone charger! It's too stressful - I prob won't live long enough to pay it all off at this rate 😰

I have a 1.99% deal coming to an end in August. About a month ago I fixed a 5 year deal at 3.99%. I'm happy with that as I want certainty and not to have to think about it. Rates have gone up since I sorted it and quite a few fixed rate products have been withdrawn and higher rates introduced. Its with my existing lender so no fee.

Where is the variable now out of interest?
I'm trying to work out whether a fix is better than variable at this stage as things don't seem to be heading down any time soon.

I don't think these variables circa 3% or even 4% never mind 5% are in existence at the moment.