5yr Fixed ot 10yr Fixed

tonydee

Remember the rates are historically low too and that not all brokers will recommend long deals as they inevitably lose your business for that period.

105k

When I remortaged almost a year ago the choice was easier as the 5 year fix was 4.39% and the 10 year was 4.79%. Although I don't expect to ever move again I went for the 5 year and not just because of the small saving (£21 a month I think). A lot can happen in 10 years but 5 years is a relatively short period of time.

If you're really just worried about being able to borrow 5k or so in a couple of years time (and your mortgage doesn't allow overpayments and subsequent drawdown of them) then you could remortgage for an extra 3k now and stick it in a cash ISA (should just about cancel out the interest) and start saving today for the other 2k or so.

jamesd

suzyp1982, it will go up after two years, probably to around 6.5%, whatever the SVR rate is for that lender. You would normally take that sort of deal if you plan to remortgage in two years. If you do not want to do that remortgaging, look for a lifetime tracker or longer fixed term instead. Watch out for overhang, a requirement that you pay a penalty for longer than the fixed rate period - it's very common on fixed rate deals like yours.

humfer

Its almost impossible to say, as no one knows what interest rates will be in 2 years let alone 5 or 10. Suppose you have to take this out of the equation and look at how long you are going to remain in your current house.