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10 year fixed rate. Is it worth it.
Comments
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We took a 5 year fixed at 5.39 last feb and while I was pushing for a tracker, OH convinced me that knowing the repayments were not going to change was a big plus. Yes I'd like to be paying less in interest each month like I would be if we had taken a tracker but knowing it cant go up is more important.0
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A poll by Reuters just released today said that rates are expected to be 0.5% at the end of the year, down from the current 1.5%. As i mentioned, swap rates and libor is dropping. deals will get a lot lot better. Hold on as long as you can.
Sorry but i am shocked that your financial advisors let anyone fix for 10-years in 2007, as the market knew since Autumn 2007 that rates were going to start coming down. I have a mate who works in the FX dept at Barclays and he even did the same, even though he should be in the know.
Although i guess at the time coming off the SVR, i can see why people would want to sort something out, and no-one knew that rates would come down as much as they have.
Ta
Sam0 -
A poll by Reuters just released today said that rates are expected to be 0.5% at the end of the year, down from the current 1.5%. As i mentioned, swap rates and libor is dropping. deals will get a lot lot better. Hold on as long as you can.
Sorry but i am shocked that your financial advisors let anyone fix for 10-years in 2007, as the market knew since Autumn 2007 that rates were going to start coming down. I have a mate who works in the FX dept at Barclays and he even did the same, even though he should be in the know.
Although i guess at the time coming off the SVR, i can see why people would want to sort something out, and no-one knew that rates would come down as much as they have.
Ta
Sam
Sorry thats is rubbish, base rates were at 5%, inflation rose, and swap rates were over 6% in 2008 (a two year fix was 6.5%+ in July 08), until later in the year when everything fell through the floor in October.
Your hindsight is brilliant but misguided.Nothing to see here :beer:0
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