By Admin on May 29, 2009 in Renting & Real Estate
boggaloo asked:
I know that anything could happpen in the next few months, no one would have forcast how bad things would get a couple of years ago. However I have to consider my fixed rate which I would like to continue with as I like to know my exact payments. My mortgage is very low and I have about 10 years left to run on it. Even in todays climate it is worth double what I paid for it.
I know that anything could happpen in the next few months, no one would have forcast how bad things would get a couple of years ago. However I have to consider my fixed rate which I would like to continue with as I like to know my exact payments. My mortgage is very low and I have about 10 years left to run on it. Even in todays climate it is worth double what I paid for it.
Reasonable fixed rate mortgages are very rare and will be so full of conditions.
In any case you may have to stay at variable rate for a time, as this may have been one of the conditions of your fixed mortgage rate.
I would try to go to a tracker mortgage.
Interest rates are low right now and will stay for a little while yet, They will rise again, but fixed rate mortgages are so expensive right now, they are not the bet value and will have so many restrictions and additional conditions they are not worth it.
Chas | Jun 1, 2009 | Reply
your repayments should go down, but if you feel happier the way it is ask your mortgage provider what they can do.
erjplumbing@btinternet.com | Jun 4, 2009 | Reply