Mortgage deal ending

Thanks for advice , I was feeling more drawn to that out the options, plus it only adds on £200 to my mortgage compared with £400/500 on the other options .
So even if interest rates did drop big in 4-5 years time I’ve saved a lot anyway.
Cheers again.
Theyve been unrealistically cheap for 15 years, the scary thing is kids with houses now think what theyve paid is the norm, and its not. Thats why the roads are filled with rented flash cars and everyones got tattoos and an Iphone filled with photos of all inclusive trips to Mexico and teeth from Turkey. They will be giving them all back soon.
Its a big wheel
 
Which is why markets, in a blow to mortgage holders, are now predicting a peak base rate of 6% - up from just over 5.75% last week.

The peak, markets think, will be in March next year - and the base rate is forecast to remain over 5.5% throughout 2024.

The next rates decision is 21 September - yesterday markets said there was an 85% chance of a 0.25 percentage point rise to 5.5%.

This morning that figure is 99%.
 
Theyve been unrealistically cheap for 15 years, the scary thing is kids with houses now think what theyve paid is the norm, and its not. Thats why the roads are filled with rented flash cars and everyones got tattoos and an Iphone filled with photos of all inclusive trips to Mexico and teeth from Turkey. They will be giving them all back soon.
Its a big wheel
True. I think we were at 11% in 1991. The last few years were unbelievably cheap in comparison. All paid off now, happy days.
 
I think so…and it sounds like it is but not sure if ‘renewal’ plays a part (I’m renting atm).

I'd imagine it's slightly cheaper to renew because there's no need for conveyancing (even though buyer not lender pays fees, it's still an added complexity).

Use comparison sites and do a search for purchase and another for renewal. You'll probably get similar results, if you do it confirms your query.
 

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