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@Timmy2wheels
Anyone on here work in this horrid area of finance? I'm sure this will put me in the firing line for a good ripping but here goes anyway...
I came off my 2-year fixed rate, first time buyer mortgage product in Feb and onto Abbey's standard variable, currently at 4.24%. "Great", I thought, "I'm paying less now than I was on what at the time was a very good deal!" Now, a few things I've read and been told indicate that rates won't stay low for very long and may start to 'bounce' up and down, as can happen after a period of very quick deflation.
Unfortunately I have a shite loan to value of 87%, which puts me out of reach of the favourable mortgage products. Should I go with a 6% fixed rate now and be fucked whilst interest rates are low, or should I wait and get fucked later when they rise? Help!