I think the decision is to be the fixed rate for the full amount

the rates will go up, but not by a huge amount. i would probably say up to 2% max.

i'm currently on a 6.05% fix rate mortgage until next june. pissing me right off.

Doubt rates are going anywhere soon as well tbh. Theres no real signs of growth so no reason for them to rise.

I'd stick with what you have for another 6-12 months, fix later if you still want to.

I should have said option 2 is a 5 year fixed with no fees and free survey

option 1 is £999 product fee for additional borrowing and would incur £300 survey fee



[Edited on 13-09-2011 by whitter45]

well i dont think the rates will be going up anytime soon anyway. Its a gamble at the end of the day but your more likely to save money on option 1 as long as the rate stays low. i think its going to be there for at least another year or two.

Just trying to get a feeling of peoples opinions (I am almost sure of which is the more sensibel option)

Without getting too detailed I have an existing mortgage with is 2% above base rate i.e (2.5%).

My initial thoughts were to port this over and borrow additional money at a fixed rate so effectively 2 mortgages

However I do not think long term the rates are going to stay low so in order to have options my thoughts were

Option 1
Keep existing on the tracker and get a 2 year fixed for addition so that after 2 years i can have just one mortgage

Option 2
Payoff existing mortgage when I sell and get a new mortgage for the mount required on a fixed term

I think in the current climate option 2 is the better one but just wondering peoples thoughts or experiences if they have had similar debates

thanks