Fixed or Variable?

dimbo61

£130,000 over 25 years would be £729.24 each month repayment and
£497.25 Interest Only at 4.59% fixed for 5 years.

isayoldchap

dimbo61 wrote: »

So you honestly think that the op will have a variable rate of 2.89% for the next 5 years !!!
I will run Naked round the TOWER OF LONDON if that happens
You are putting down a 25% deposit so taking out a £130,000 mortgage over 25 years and people are saying go on a variable rate now !
What happens if the lender you go with will not offer you a good fix in 2 years because your LTV have dropped with the falling market and the SVR climbs to 7/8/9%
You need a long term fix and you want 5 years to get some of the mortgage paid off ( overpay if you can )
You need security not the cheapest rate this month its your home you are gambling with .

The BOE rate has gone from 5% to 1% in a few months who is to say in will not rise as quickly.

dimbo61
Would you consider a different location so that more of us can come for the viewing?:eek:

dimbo61

In 5 years time I will be 52 already old,fat and nearly bald
Where do you think more people can see me in the centre of London !