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fixed versus variable
firsttimebuyer123_3
Posts: 2 Newbie
I am a first time buyer and have been offered a 3yr variable at 4.14% with a £995 fee or a no fee 3yr fixed rate at 5.79%, which would people advise to go for? considering the current climate.
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Comments
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you're right - it is warm,
and I would say fixedHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
3 yr fix doesnt seem worth it. 5 or 10 year taking advantage seems better value.
Whether you go with fee or no fee will depend on your mortgage amount and how you would pay that fee.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Base rate plus 3.14% is quite a high tracker rate - is there nothing better out there? If these are the only deals available I'd be looking to up the deposit in order to get a better deal.0
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