Oh for a crystal ball!

bertietheblue

If only I knew how soon and how steeply interest rates will rise then I could decide what to do when my 2 year fixed rate ends next month. I've been offered (a) 4.69% with £299 fee for a 5 year fixed rate (interest only) or (b) 2.99% standard variable rate (interest only). (a) or (b) - any votes?

Cheers
Bertie

mramra

I am in a similar boat, have been researching on here and elsewhere for a couple of weeks and have decided to take at least a 5 yr fix, possibly 10.

It all depends on your individual circumstances though, and attitude to risk, in my case peace of mind of a long term fixed rate is very valuable.

bertietheblue

Yeah it's a tough one. I wouldn't want 10 years as I don't plan to be in the property that long. I was wondering though, for example if you take the SVR and religiously put the difference (in my case £200) into an ISA or other savings account, maybe it'd be a better deal... Baah, I've no idea!