This is a really good question to be asking at the moment and it's one that plenty are... Rates are dropping so there's merit in the discussion around floating and waiting for a better rate.

Perhaps you've had a loan come off fixed and it's just sitting there waiting for you to make a move?

The reality is that it doesn't really make sense to have a loan on floating at the moment

Why?  

Mainly because the gap between the floating rates (mid 4% range) and short term fixed rates (under 2.5%) is so high that the cost of being on floating is likely to outweigh the benefit of the ability to fix when rates drop lower.

We've even made a calculator which you can access at this link.  By keying in what you think rates may drop to and when, you can see whether you'd save money by fixing now or continuing to float.

Obviously everyone's situation is different so if you've got a fixed loan expiring soon or lending on floating then get in touch and we can get that fixed for you, free of charge and on to a great rate, quickly.

Adam and the My Mortgage Team