The Five Year Fixers Club

Dithering_Dad

I've been worried for a few months now that the current period of low interest rates will not last long (hopefully around 12 months) and will soon be replaced with a sustained period of high interest rates (perhaps 5 years or more). I'm thinking here of rates in the region of of 8 to 15 percent.

I don't think I'm alone in this, so thought it might be useful to have a place for like-minded folk to post the best +5 year fixes we can find, so that as each of us makes the decision to fix (i.e. when our current deal ends or when we feel the market is turning), we won't have to trawl the internet quite as much to find a decent deal.

I can't fix until my current mortgage deal ends in April 2010, so I'm hoping that my high interest rate prophecy doesn't come true until then! :eek: However, other people's deals will be ending between now and then, so this could be a good resource to find the best deals.

I had a quick peep on google and for me (with more than 60% LTV), I can get a 5 year fix at 4.79% or a 7 year fix at 4.97, which are pretty good rates even without the fear of future double digit rates. These mortgage are with the Woolwich. They also allow 10% (for 5 yr) and 5% (for 7 yr) overpayments, which is very important for me as I still have the MFW bug.

socrates

Dithering_Dad wrote: »

I've been worried for a few months now that the current period of low interest rates will not last long (hopefully around 12 months) and will soon be replaced with a sustained period of high interest rates (perhaps 5 years or more). I'm thinking here of rates in the region of of 8 to 15 percent.

I don't think I'm alone in this, so thought it might be useful to have a place for like-minded folk to post the best +5 year fixes we can find, so that as each of us makes the decision to fix (i.e. when our current deal ends or when we feel the market is turning), we won't have to trawl the internet quite as much to find a decent deal.

I can't fix until my current mortgage deal ends in April 2010, so I'm hoping that my high interest rate prophecy doesn't come true until then! :eek: However, other people's deals will be ending between now and then, so this could be a good resource to find the best deals.

I had a quick peep on google and for me (with more than 60% LTV), I can get a 5 year fix at 4.79% or a 7 year fix at 4.97, which are pretty good rates even without the fear of future double digit rates. These mortgage are with the Woolwich. They also allow 10% (for 5 yr) and 5% (for 7 yr) overpayments, which is very important for me as I still have the MFW bug.

Possibly better placed on the Mortgage Board - there are several threads about this same subject

Dithering_Dad

oops! Thanks socrates. I thought I was in the mortgage board - I was wondering why there wasn't much talk about mortgages

Mods, could you please move this thread?