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archiveuk · 01-06-2009, 12:40

If this help I reproduce an abridged email to a client of mine!

Hi ****

Re your Enquiry,

The current market has left us with relatively low Standard variable rates (SVR), indeed with Nationwide is curretly 3.99%.

Additionally, longer term fixes are generally higher (average 5% to 6 % depending on the term and lender), they also tend to carry high setting up fees, £500 -£1500 not uncommon.

This leaves us all with a dilemma, do we go for the security of a fix or hang on till rates start to rise? Two things are sure, Rates will rise ! and the very first time they do they'll be a stampede for fixed rates (which will suddenly become even more expensive, both in rates and fees).

That said there are are few "gems" to be had in terms of mortgage deals at present, your decision is do you go for security now at the higher cost?

By my reckoning you will be paying around £*** month at the moment? i reckon that by going for a fix will increase your payments by around £50 -£60 per month but you have protected yourself against future rises.

(products removed by poster for commercial reasons).

01-06-2009, 12:40	#7
archiveuk Full Member Join Date: Jun 2005 Posts: 99 Liked: 0 times Rep Power: 0	Re: Mortgage Rates If this help I reproduce an abridged email to a client of mine! Hi ** Re your Enquiry, The current market has left us with relatively low Standard variable rates (SVR), indeed with Nationwide is curretly 3.99%. Additionally, longer term fixes are generally higher (average 5% to 6 % depending on the term and lender), they also tend to carry high setting up fees, £500 -£1500 not uncommon. This leaves us all with a dilemma, do we go for the security of a fix or hang on till rates start to rise? Two things are sure, Rates will rise ! and the very first time they do they'll be a stampede for fixed rates (which will suddenly become even more expensive, both in rates and fees). That said there are are few "gems" to be had in terms of mortgage deals at present, your decision is do you go for security now at the higher cost? By my reckoning you will be paying around £* month at the moment? i reckon that by going for a fix will increase your payments by around £50 -£60 per month but you have protected yourself against future rises. (products removed by poster for commercial reasons).