Mortgage advice (in the current climate).

[somapop]

Hi folks.

Is there anyone who works in mortgages/finance, or has good deal of experience with mortgages, especially in the current climate.

I'm usually happy to share stuff on here (as many will know) but prefer to keep this one personal so if anyone can offer me a PM when they have a spare moment (no rush!), I'd be hugely appreciative.

Quite high level atm before I take it any further (so I'm not asking for a freebie financial advisor session more where to start/direction to take).

Thanks!!

 

[BlueHammer85]

Nope but my mortgage renewel was up in November and I’ve never become so fixated with rates and the guessing game.
The 2 years and 5 years were so high that it forced by hand to take 10 year option.

Fire away on here ya situation

 

[denislawsbackheel]

Don’t forget y’all you can approach your BS six months before your current fixed rate is due to end for an offer in principle. This gets you an offer fixed at the current rate for when your deal ends. If rates go up in the meantime you are laughing. If they fall you don’t need to take up the offer in principle.

Imagine if you were due to end now and had got an offer in principle six months ago.
You’d be in clover.

 

[Johnny Mars Bar]

We fixed for 5 years just before Kwarteng set off a suicide bomb in the treasury thank fuck. If it was up for renewal now I'd be going on a tracker - you don't want to be fixing when rates have peaked.

No way they'll reduce them at the same speed they jacked them up, mind.

 

[denislawsbackheel]

Peaked?

 

[BlueHammer85]

Peaked?

One more 0.25 I reckon