New Long Term Fixed Rates

pingu2209

Does anyone out there know whether the fixed term rates for 5 years + are likely to get any lower?

dimbo61

3 deals for 5 years at 3.99/3.95% from A&L/HSBC and abbey
Others may follow!

Peelerfart

pingu2209 wrote: »

Does anyone out there know whether the fixed term rates for 5 years + are likely to get any lower?

No ! and if anyone says that they do, don't believe them.

pingu2209

Peelerfart wrote: »

No ! and if anyone says that they do, don't believe them.

Why do you say that? I'm not arguing - just wondering.

Peelerfart

pingu2209 wrote: »

Why do you say that? I'm not arguing - just wondering.

Because no-one "knows %100 " what rates are going to do. Ask what people think by all means, but you will only get opinion and not fact .

Credit_Check_Services

Agreed, no one can give assurance on future rates. But IMO if you can get a 5 year fix at 3.99% then it is a great deal ... IMO.

dimbo61

A&L have NO FEE
Abbey/HSBC both charge £999 fee
all 5 years all under 4%

AntiLochus

pingu2209 wrote: »

Does anyone out there know whether the fixed term rates for 5 years + are likely to get any lower?

Pingu - no-one can know for sure.

Long term fixed rate are (from what I can gather) more closely linked to the LIBOR (http://en.wikipedia.org/wiki/LIBOR) than the BoE base rate.

If that rate drops then it is cheaper for banks/building societies to lend money and therefore they can offer cheaper loans/mortgages. However, all banks/building societies have they own self-interests to serve and make money - so just because they CAN reduce their rates doesn't mean they WILL.

Personally I just jumped at the chance for a 3.99% 5yr fixed - others are waiting for the rates to fall further

sandspider2000

I'm halfway through signing up to the HSBC 5 year fixed rate at 3.99, £999 fees, but just noticed the A&L 3.99 no fees, and am wondering whether I can be bothered to go through the whole application process again! (And move my current account to A & L ) Current thinking is probably not, but I'm hoping HSBC may cut the fees to stay competitive...

hearts

sandspider2000 wrote: »

I'm halfway through signing up to the HSBC 5 year fixed rate at 3.99, £999 fees, but just noticed the A&L 3.99 no fees, and am wondering whether I can be bothered to go through the whole application process again! (And move my current account to A & L ) Current thinking is probably not, but I'm hoping HSBC may cut the fees to stay competitive...

If somebody offered you a grand for 2 days work would you take it? ;-).....and I'm being generous with the 2 days. Probably more like 4 hours allin ;-)

Stantheman

I was going to apply for the Abbey fixed at 3.95 this week but it has a £999 fee. Thanks to Dimbo I just spotted the A&L with no fee but the rates 3.99. Can anyone tell me whether financially Im better off paying the fee for a lower rate. I can see there isnt much in it but cant do the maths. Can anyone help?