--DAN--
Member
Registered: 3rd Feb 03
Location: Bottesford. Drives;3 Series
User status: Offline
|
The fixed rate on our mortgage ends in December so we had an appointment with an independant advisor to see what they could find us. So from December my mortgage payments will increase by £110 
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
Just a local company or national one?
|
--DAN--
Member
Registered: 3rd Feb 03
Location: Bottesford. Drives;3 Series
User status: Offline
|
Local, but very reputable, she didn't charge me either which was nice.
Was expecting it to be honest as I locked in on a very good rate so a hefty increase was inevitable.
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
Wasnt trying to make out they might not be reputable BTW. Just wondered if it was one of the national ones for a few reasons.
Yeah, my sister is locked on one with a good rate thats up soon and not looking forward to sorting another 
|
--DAN--
Member
Registered: 3rd Feb 03
Location: Bottesford. Drives;3 Series
User status: Offline
|
I was on 4.6% and I'm now going on to 5.88%, which is pretty much the best rate out there atm. I was gonna ask her about those Natwest One Accounts but forgot, might call her to find out her opinion on them, as on face value they look ok but theres always a catch.
Pics of sister
|
GT4Brody
Member
Registered: 26th Sep 01
Location: south
User status: Offline
|
Mine has just gone up £100 a month due to having good fixed rate for 2 years..
|
Dean_W
Member
Registered: 13th Dec 05
Location: Downham Market, Norfolk
User status: Offline
|
I did mine this year, thanks christ.
|
Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
|
I've got 2 more years on my 4.6% rate
I plan to save up about 20k over the next 2 years and put it into my property to help cushion the blow when it comes the time to re-mortgage.
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
quote:
Originally posted by Aj.
I've got 2 more years on my 4.6% rate
I plan to save up about 20k over the next 2 years and put it into my property to help cushion the blow when it comes the time to re-mortgage.
Would putting it into the property to lower the amount your having to repay be best, or putting it into an account where the interest you receive on it brings in more than the extra payments would be costing you?
|
Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
|
I havent really looked at it that way TBH, what would you do?
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
quote:
Originally posted by Aj.
I havent really looked at it that way TBH, what would you do?
Would really depend on the figures when you actually come round to doing it, as 2yrs is a long time off yet and a lot could change.
20k could bring you a decent amount in per month though and leave it there should you need it for other things without having to remortgage to get it out - although putting it into the property would shortern the amount of time your paying it off eventually.
|
--DAN--
Member
Registered: 3rd Feb 03
Location: Bottesford. Drives;3 Series
User status: Offline
|
quote:
Originally posted by Cosmo
quote:
Originally posted by Aj.
I've got 2 more years on my 4.6% rate
I plan to save up about 20k over the next 2 years and put it into my property to help cushion the blow when it comes the time to re-mortgage.
Would putting it into the property to lower the amount your having to repay be best, or putting it into an account where the interest you receive on it brings in more than the extra payments would be costing you?
TBH that sounds like a pretty good idea to me.
|
Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
|
Exactly, it’s a hard thing to decide on. As you rightly say, a lot of things can change in 2 years.
Closer to the time I’ll be speaking to a financial advisor to see what they think.
[Edited on 23-10-2007 by Aj.]
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
Yeah a decent IFA will look at the different options for both mortgage and where to invest it and do the figures for you to save you the hassle!!
|
