MORTGAGE RATES STICK OR TWIST ?

ScottH

Member
Messages
216
Halifax seem to be offering 10yr fixed at the same rate as the 2-5yr just with a bigger early repayment fee.
 

Bladerunner

Member
Messages
435
3.4% is the best I can get on a fixed 5 year . Is that good or bad?
I’d say good too.

With Bank of England rates up to 1.75% , a lenders standard variable rate is always higher, likely 2.5% at absolute minimum so to fix at 3.4% in anticipation of further rises is a good shout.

The SVR I’m on with Bank of Ireland is 4.99% for example, because we are selling the property so can’t fix again
 

midlifecrisis

Member
Messages
16,101
As Yazz said "The only way is up" so if your happy with fix rate offer probably best
I now have that as an earworm...thanks

I'm in a similar boat to Martyn, two mortage products one runs out at the end of this year the other in 3 years. tTe question is, do I fix the one ending soon to ten or gamble and get a 3 year deal and then go to the wider market in three years?

Edit: both the 3 year product and 10 year product interests rates are the same at 3.54% with the nationwide.
 

Sam McGoo

Member
Messages
1,745
I'll be doing the same sums in the coming days, as it's 90 days from deal ending on ours so worth getting prepared.

It's worth remembering, that a lot of mortgage/additional borrowing offers are valid for 6 months, so you could always get the offer and sit on it for 6 mths, see what's happening with rates, finances etc, and make sure it's what you want to do before accepting it.
 

philw696

Member
Messages
25,113
Certainly interesting times and could be worrying too with inflation forecast to rise steeply still the PM and his Chancellor are on holidays so no panic.