To fix or not to fix

K

Kerrigan

Registered User
Messages
378
We hear ACC are almost left the market so it would probably be in their interest to see the back of the likes of me, however I am not in a position to move providers. However, I enquired about fixing my variable rate which is currently 4.4% and was offered 5.5% fixed over 5 years. What are your thoughts on this? It certainly doesn't entice me.
 
I wouldn't fix. Why were you thinking of fixing?

If you have a good LTV maybe you can get a better rate.
 
I'm in negative equity of approximately 60k. I have a fear of some vulture fund taking over and sky rocketing the interest rates. Absolutely 5.5% is a total non runner.
 
Are the arrears still building up?
If the arrears are still building up is the mortgage unsustainable?
If the arrears are static and not building up are you taking steps to deal with the arrears?
 
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