Remortgage - First Direct a good choice?

[Simon]

The last rise wasn't really a rise either. It was a correction to the change they made after the brexit vote to help boost the economy.

2001 4
2002 4
2003 3.75
2004 4.75
2005 4.5
2006 5
2007 5.5
2008 2
2009 0.5
2010 0.5
2011 0.5
2012 0.5
2013 0.5
2014 0.5
2015 0.5
2016 0.25
2017 0.5

it's back to 0.5% what it was since 2009 so it wasn't a rise at all.

it's been so low for so long and it's still not helped the economy so i can't see them raising it. all it would do is make the banks richer and more dissent within the country. tories would be voted out or there would be riots as people have to choose between homes and eating.

It’s 0.75 now

 

[ChrisD.]

I think I would have to reapply if I wanted to go to a 2 year fixed rate. But then again I could remortgage to 25 years rather than 19, and have a nice safety blanket if I ever need it. Being an adult sucks sometimes!

 

[Psycho Sonny]

It’s 0.75 now

i doubt it will hit 1% then. based on previous history and brexit. it will stay at 0.75%. then when brexit kicks in. the economy takes a hit. it goes to 0.5% or lower. probably lower.

the banks want to scare everyone and make them fix for the long term. they know they will win if people do that.

 

[Simon]

That view is just a guess isn’t it. you already thought it wouldn’t go from 0.5 to 0.75.


Chris are you using a broker ? You should try one of not as they are likely to find good deals however as you say, staying with lender means no fees which often people overlook and focus on % rates

 

[ChrisD.]

That view is just a guess isn’t it. you already thought it wouldn’t go from 0.5 to 0.75.


Chris are you using a broker ? You should try one of not as they are likely to find good deals however as you say, staying with lender means no fees which often people overlook and focus on % rates

Yes 2.05% was the best using a broker. I’d rather go with my own bank as it isn’t a huge difference and I already have the agreement in principle.