Soldato
still coming up as 4.49% for me as a new customer with a 50% LTV for a five year fixed, 10 years total
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
Associate
Ours comes up in April next year, so will be keeping a keen eye from October onwards, we managed a 5 year fix in the early months of Covid so are on the ultra low rate so will have a jump coming in '25 - I had just been chucked onto furlough so we were lucky to secure it ahead of them starting to take that into consideration!
Have been overpaying to try and take a bit of time off the mortgage, and also be used to that amount of money coming out for mortgage rather then suddenly a massive jump. (overpayment wont be equal to the amount ours will go up by though so will still be a bit of a hike)
Have been overpaying to try and take a bit of time off the mortgage, and also be used to that amount of money coming out for mortgage rather then suddenly a massive jump. (overpayment wont be equal to the amount ours will go up by though so will still be a bit of a hike)
Soldato
Another overpayment made, broken the 10k barrier now 
In the final straight
In the final straight
Soldato
Ours is up in February, currently at 1.49%
Balance will be 145k ish at the end so price increase will be manageable by us. Just mortgage will take a few extra years to pay off.
Balance will be 145k ish at the end so price increase will be manageable by us. Just mortgage will take a few extra years to pay off.
Also keeping an eye on the market I'm sure last time i looked i was taken aback by what looked to be a new trend rather than £999/£1499 product fee's to charge a fee by percentage of the mortgage balance, like 1.00 - 1.25% which for the majority of houses comes out at more than historic product fees
Sounds like another US import, over it can be 3-5% but those loans are usually much longer terms
Soldato
Aren't a lot of the US mortgages the whole mortgage balance? So you take it out for 20 years and pay off the entire thing.
Being pedantic but isn't that what all mortgages are?
The US typically has lifetime interest, i.e. it is fixed interest for the entire length of the mortgage
Soldato
Soldato
Another overpayment made, broken the 10k barrier now
In the final straight
Well done mate, 14k here, creeping closer, realistically this time next year mines gone.
My new deal starts from 1st of August 2 years at 5.29% I was on 2.19%. I could get a 5 year deal at 4.61% but I don't want to be locked in for 5 years and the difference is only about £20 a month. 54k left on it (im shared ownership so pay rent and service charge as well).
Soldato
Mine runs out at the end of the month, I'm going to chance it and wait for the 1st August BoE announcement I reckon. I will get stung for 8+% on tracker for a few days but I think something will happen
Soldato
It’s not just a few days… it could take weeks for you and the bank to sort it out. I think it took nearly two weeks before I managed to speak to a mortgage advisor. The cheaper ones will be the most busy.
I think he means the follow on rate, no tracker rate would be that high!
Soldato
I'll be sticking with Barclays so I think things are pretty much instantaneous
My existing fixed rate expires at the end of September and I've already locked in a rate of 4.6%. I can change it should the rate drop between now and the end of the existing contract but I was told by the bank that it can take up to five days to process it.
![[FnG]magnolia](/styles/overclockers/avatars/9.png){kind=avatar}
Caporegime
Anyone had any experience of requesting overpayments balances back from the mortgage lender? I have about £25k in my overpayments bucket and a mortgage rate that is 2.39% so i would be earning money just by having that overpayments bucket in a fixed term bond or high interest savings account even.
Soldato
Surely that's just money under the mattress territory for GD types. Just pay it off and wait a little longer for a new watch/phone/beltAnother overpayment made, broken the 10k barrier now
In the final straight
