Nationwide 5 Yr Deal - Fix or stay on Variable??

bully1234

I am on the variable rate of 2.5% with Nationwide at the moment.

I wish to stay with Nationwide and they are offering me 5 year deal at 4.98%. I have £74k on mortgage over 19 yrs and the house is worth £150k.

We are currently saving £100 a month on the variable rate, but I don't know whether to fix now before the rates start creeping up.

I would appreciate your advice.

opinions4u

I would stick with their SVR but keep a mighty close eye on the fixed rate market, with a view to fixing as soon as you feel upward movement is likely.

<insert disclaimer that says don't blame me if rates shoot up before you can act>

Just noticed Halifax offering a 4.52% fix for 5 years, so don't assume your lender is offering the best value.

Get close to sites like www.moneyfacts.co.uk.