UB Fixed rate up in Sept - what next?

L

LadyJane

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Hi, I am wondering: our Ulster Bank mortgage fixed rate of 5.25 is up in Sept of this year. I know our contract says we will be automatically moved to a variable rate and MAY be offered a fixed rate - maybe not.

In what circumstances would they NOT offer us a fixed rate? Would this be a common occurance? I am hoping to get a decent fixed rate - as we like knowing what amount will be due each month.

Also I notice that on UB's website - they offer several different types of variable and fixed rates. Our LTV is > 80% - but there are several rates at this level. Confused! I am aware that rates will change between now and Sept but I would just like to have an idea of what to expect.

Thanks.
 
I have not heard of fixed rates not being offered. i would tthink you would be offered a 1/2 yr, 3 yr, 5 yr or variable when its up.

I would think the different rates you are seeing for same ltv are new and existing customers?

btw i thought id replied already, but may have been deleted as i might have mentioned interest rates, so ill leave it at that.
 
hi ladyjane

id say the maybe is to cover them selves incase fixed rates are removed from the market. live trackers were. but they are still around so u'll be offered one .
does the rates on the ub website say anything about being for new customers? they will have different rates for new customers and for existing customers.
most banks as far as i am aware offer you the facility of splitting your mortgage so you can fix a% say 50% and keep the other 50% on var or even fix both but have them for different lenght. i.e. 2 and 5 yrs
mite be worth a call to see if it is an option
 
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