[Finance] Is your Mortgage rate ending this year ?

[Uncle Spielberg]

After recent highs, mortgage rates have finally taken a dip.

By way of example, as of today HSBC is now offering a 5-year fixed rate at just 3.94%, providing an excellent opportunity for long-term payment stability. The rates change daily with the landscape and this is generic so a finger on the pulse for changes is needed and bespoke advice is vital for your own personal circumstances

There are some excellent 2-year deals available for those who prefer a shorter locked-in period

If you've been thinking of exploring your options for a house move, re-mortgage or even buying your first home, message me for a personalized consultation and I can help you see what may be available to you.

US/GG

 

[Brian Fantana]

I had to renew in October last year, or else face a mental variable rate. How I wish my mortgage deal was coming to an end now and not a few months ago!

 

[HeaviestTed]

October this year, hoping it will be much lower but knowing my luck will rishi will have a massive tantrum because no one likes him and causes the BoE to hike rates again

 

[Tim Over Whelmed]

Strangely enough, as we emerge from this period of high interest rates we haven't seen the same rates as savers, which historically we would have.

 

[Wilko]

After recent highs, mortgage rates have finally taken a dip.

By way of example, as of today HSBC is now offering a 5-year fixed rate at just 3.94%, providing an excellent opportunity for long-term payment stability.

There are some excellent 2-year deals available for those who prefer a shorter locked-in period

If you've been thinking of exploring your options for a house move, re-mortgage or even buying your first home, message me for a personalized consultation and I can help you see what may be available to you.

US/GG

My three year deal runs out at end of 2024 so I may well be back in touch with you then chap. I’m with HSBC on 1%, cursing myself for only doing a three and not a five year deal

 

[Mustafa II]

Mine is up in a few months.

I secured one at 5.3% (2 year fixed) a few months ago, which unbelievably was a decent rate at the time. Using comparison websites now, I can get 4.3%.

What I'm wondering is... should I apply now for better rates, costing a hard credit check, or is it a case that the later I leave it, the better the rate I'll get.

...or maybe you need a crystal ball for that.

 

[Uncle Spielberg]

Mine is up in a few months.

I secured one at 5.3% (2 year fixed) a few months ago, which unbelievably was a decent rate at the time. Using comparison websites now, I can get 4.3%.

What I'm wondering is... should I apply now for better rates, costing a hard credit check, or is it a case that the later I leave it, the better the rate I'll get.

...or maybe you need a crystal ball for that.

The best thing is to apply for a lender who do a " soft " credit footprint which many now do. Happy to help

 

[Mustafa II]

The best thing is to apply for a lender who do a " soft " credit footprint which many now do. Happy to help

Nice advice. I didn't even know that was an option.

 

[Cheshire Cat]

Presumably the interest rate that used to be regarded as normal before the crash, is now regarded as ludicrously high.

My last mortgage (a long time ago now fortunately) was a tracker with a 2% floor rate. When I took it out, I never dreamed rates would fall anywhere near that - ever, let alone stay at virtually 0% for over a decade.

 

[Perkino]

My renewal is due in September, do you expect things to continue to fall during 2024?

 

[Uncle Spielberg]

My renewal is due in September, do you expect things to continue to fall during 2024?

Trend is down, there is a war atm as lenders lent the lwoest amount last year for 20 years, apply 6 months before the rate ends and continue to review as you change change a rate or lender, happy to help if you send me a pm

 

[Dave the OAP]

What’s a mortgage?

 

[HeaviestTed]

What’s a mortgage?

Capitalisms finest tool to keep us plebs in our place.

 

[Mustafa II]

My renewal is due in September, do you expect things to continue to fall during 2024?

Mortgage rates flying down now.

Mortgages: Barclays and Santander cut rates as competition intensifies

Two big lenders cut their mortgage rates as the battle for those seeking a new deal continues.

www.bbc.co.uk

Looks like the banks are predicting the base rates to drop quickly and sharply in the next couple of years. Unless something unpredictable happens again, then mortgage rates are only going to continue to go down.

 

[WATFORD zero]

What’s a mortgage?

What we all used to have with the rest of our faculties

 

[Perkino]

Mortgage rates flying down now.

Mortgages: Barclays and Santander cut rates as competition intensifies

Two big lenders cut their mortgage rates as the battle for those seeking a new deal continues.

www.bbc.co.uk

Looks like the banks are predicting the base rates to drop quickly and sharply in the next couple of years. Unless something unpredictable happens again, then mortgage rates are only going to continue to go down.

Do just a two year at renewal and wait for the savings to show

 

[Mustafa II]

Do just a two year at renewal and wait for the savings to show

... or a tracker?

 

[Uncle Spielberg]

5 year fixed rate 3.89%, £ 999 fee added to 60% ltv. Tracker rates normally limited to 2 years and about 1% higher than 2 year fixed rates

 

[Seaber]

I have a mortgage that ends in a month, and a smaller one I took out when I moved. I have been advised I can fix for one year and combine the mortgages at the end or 2024, or fix for two years and combine them at the end of 2025. This would mean fixing the smaller mortgage for one year at the end of 2024.

Do you reckon it's better to move in one year or two? Both have a very similar rate, so the one year fixed if only a couple of quid more a month.

 

[Uncle Spielberg]

Hi send me a PM and I can help and compare