The five years fixed period of my mortgage was coming up. I had read up on things, and from that I had concluded that I might as well do nothing. Several reliable-looking sources said that if the amount outstanding wasn’t large, you may as well go flexible. And what I still have to pay off is quite small compared to your average mortgage. So I didn’t plan any interventions.
Then I got a phone call from my mortgage provider. Did I want a chat with an advisor? I did. And she convinced me it was probably a better idea to go fixed again. God knows what the market will do! But I was a bit sluggish and I didn't immediately respond to the proposal she sent me. I am like that; I often have to let things sink in a bit.
And then came the mini budget. And the following complete mayhem. By not answering her quickly I had probably financially punched myself in the face a bit! But that will teach me. By the time I got back to her, the best offer a she could give me was indeed not as good as the initial one had been. But I will still be fine. The radio was full of people who were in deep trouble because of that collapse of the pound, but I am not one of them. I suppose I was just a combination of mildly unlucky and insufficiently on the ball! But my running time has gone up by years. And given that the initial runtime was quite short, that makes a huge relative difference. That's life I suppose! I will have to redo my calculations of how many of my rooms I actually already own. I think I might have lost a big one…
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