My fixed rate deal runs out at the end of January 2009 which is at 4.99%. I have over 50% deposit on my property with a mortgage of £104000 with 25 years to go. I like the security of a fixed rate to budget my monthly payments and now where i stand. I do not have any other other loans other than the mortgage and pay my credit card off every month. i like to keep a close eye on my finances which hopefully gives me a good credit rating. I have been keeping track of the inter bank lending which is still high due to the lack of confidence between the banks and the volitile stock markets. I have contacted my current lender the halifax who said to phone back at the end of the month and they would be able to make a new offer. I have never had to renegociate a new mortgage rate before. Do you think the inter bank rates will come down in the next couple of months leading to better fixed rate deals, Please could you offer some advice on the best way forward/approach to this scenario.

Thanks reevo

Have you not considered using a independent financial or mortgage adviser who can access the whole market instead of going to a bank that can only recommend its own products???

Another 0.50% drop in interest rates is unlikely to make a huge difference to the monthly payment on a £50K mortgage

Brian