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Best deal on a 5 year fixed.
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The last advice I got from the so called experts in the Finance Industry was not to go for a 10 year fixed rate when the rates were under 4%! At the time I wanted to go for it but was talked out of it! I opted for a 2 yr fixed rate instead (at a very good rate) which has now expired and I am now searching for a new fixed rate. Perhaps they suggested 2 years so that they can get another arrangement/finders fee from me! or I'm I being just being cynical?0
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I'm sure that you are not being entirely cynical.
There is definitely a major financial incentive for mortgage advisers to advise short-term products, rather than long-term ones, and then to diarise contacting the customer at the end of the 2 years or whatever to churn them onto another mortgage.
But, of course, the advisers are obliged to offer best advice and this should over-ride their financial motivation to do otherwise ... shouldn't it?
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