Remortgage or not?

[McCloud]

hello , my mortgage fixed rate has expired in March and didn't remortgage as my payments have gone down and as Bank of England keeps base rate @0.5% I can't see the point. My mortgage advisor doesn't think that the base rate will stay as low for a very long time and while banks offer low rates, it is not a bad idea to remortgage.I really don't know what to do about it as while it is tempting, my mortgage payments now are lower than the cheapest fixed rate on offer.

[Jess]

Not easy, I agree. I think there is nothing wrong with staying on the variable rate, escpecially if your payments are lower, but if you want security, then perhaps remortgaging is not a bad idea. However, I would check property prices in the area. I have tried to remortgage my house, but the valuer downvalued the house, so I couldn't get the deal, £400 pounds wasted.