2 year or 5 year fixed rate mortgage?

Charterhouse

slarty wrote: »

(There's even the chance that as lenders return to profitability they may cut the high margin currently being charged between the BoE base rate and their fixed rates)

Ahahahahahahahahahahahahahahahahahahahahahahahahahaha
hahahahahahahahahahahahahahahahahahahahahahahahahahaha

oh my sides. :rotfl: :rotfl:

adamcarvell

have been looking on a&l site today and for a 4 year fixed rate of 4.89% with no set up costs sounds good

slarty_2

Charterhouse wrote: »

Quote:
Originally Posted by slarty
(There's even the chance that as lenders return to profitability they may cut the high margin currently being charged between the BoE base rate and their fixed rates)

Ahahahahahahahahahahahahahahahahahahahahahahahahahaha
hahahahahahahahahahahahahahahahahahahahahahahahahahaha

oh my sides. :rotfl: :rotfl:

I admit its a long shot! But actually several mainstream lenders have standard variables set as low as 2.5% and I got on to a 2% rate when I took out a mortgage a few months ago - so clearly lenders are offering competitive deals.

The main reasons fixed rates are so high are to provide funds for the long term savings accounts being offered at 3-4% and the fact that interest rates will go up sooner or later.