Flashpants
New Member
- Messages
- 3
Hi all! A query for you.
My five-year fixed rate is up in the Summer of next year. Although it's assumed that there will be cuts to the ECB rate between now and then, nothing is inevitable, and I don't hope to match 2020's rate then anyway. In short, whatever happens, my payments go up.
I will be moving my mortgage as soon as the rate ends and will have started the transition process. But being an odd mix of alert and lazy, I thought I could stay where I am and save on hassle. I'll stay, even if it means another ten or twenty quid a month, rather than go through a six-to-eight-week process.
Would my current bank accept these terms?
Also, as a corollary question: if I am breaking and re-fixing a mortgage with the same lender, do I need a solicitor?
I sincerely appreciate any responses as I think this through.
Thank you!
EDIT: Clarified sentence above — I am being prevented from responding to posts below, presumably an anti-spam feature. I'll respond properly as soon as I am allowed.
My five-year fixed rate is up in the Summer of next year. Although it's assumed that there will be cuts to the ECB rate between now and then, nothing is inevitable, and I don't hope to match 2020's rate then anyway. In short, whatever happens, my payments go up.
I will be moving my mortgage as soon as the rate ends and will have started the transition process. But being an odd mix of alert and lazy, I thought I could stay where I am and save on hassle. I'll stay, even if it means another ten or twenty quid a month, rather than go through a six-to-eight-week process.
Would my current bank accept these terms?
- Give me a new five-year fixed-rate deal
- Give me the cashback usually given to switchers from other banks (available on fixed-rate deals with some banks, including mine)
- Give me a small mortgage top-up
Also, as a corollary question: if I am breaking and re-fixing a mortgage with the same lender, do I need a solicitor?
I sincerely appreciate any responses as I think this through.
Thank you!
EDIT: Clarified sentence above — I am being prevented from responding to posts below, presumably an anti-spam feature. I'll respond properly as soon as I am allowed.
Last edited: