Quick question

bratcatcher

Mmm being dishonest would've worked but at the very last minute - as in when the mortgage offer was faxed to the solicitor they have added a clause that they wont lend us the money till certain works have been carried out. As if we are going to pay for work on a house that isnt ours. Anyway we can't have the mortgage - bit frustrating when we wouldve got away with it!!

Can anyone tell me how much the rates would have to rise after the initial 2 years fixed wouldve ended to make up for the higher interest rate on the 5 year that we are paying?? My maths is shocking!
Mortgage we wanted was 5.69% fixed for 2 years, but we are having to take 7.25% for 5 years borrowing 224,500. Obviously its a high rate, but being fixed for longer I'm trying to say to myself that the rates might have shot up after the 2 year one ended and we would be in a sticky position.

We are so fuming with the C&G, they have been totally useless having to ring them 4-5 times a day, being told different things each time, chasing them up, even speaking to the surveyor directly. Aargh!!!

If anyone can even just tell me how I work it out, it would be appreciated.
Thank you.