Need an opinion

beecher2

I'd either stay on the SVR for a while or go for the 3 year deal.

ArcticGiraffe

Thank you

My plan is to sit on the (3.5%) standard variable rate for a while - the fixed rate offer I'm about to get from Halifax will be good until 25th April - so I can jump into that at any time between now and then - or if the SVR is still low and the fixed rate offers are still good at that point, I can ask for another fixed rate offer and sit on the SVR for even longer.

HarrowArrow

Just a warning on 5 year fixes...

I went for a five year deal at 4.69% in December 2005 (think Base Rate was around 4.25%, those were the days for fixes, eh?). It's marginal whether I have "won" compared to just staying on SVR which has been 2.5% for over a year and will probably remain so until my deal expires in December.

ArcticGiraffe

Thanks for the input - the SVR does seem like the thing to be on at the moment.

beecher2

HarrowArrow wrote: »

Just a warning on 5 year fixes...

I went for a five year deal at 4.69% in December 2005 (think Base Rate was around 4.25%, those were the days for fixes, eh?). It's marginal whether I have "won" compared to just staying on SVR which has been 2.5% for over a year and will probably remain so until my deal expires in December.

The SVR was probably closer to 7% for most of that period - I'd be surprised if you haven't won over the long term.

HarrowArrow

beecher2 wrote: »

The SVR was probably closer to 7% for most of that period - I'd be surprised if you haven't won over the long term.

Thanks.:D:T