2 year or 3 year fixed mortgage

HUFCsteve

Decisions decisions.

We currently have about £100k and 18 years of our mortgage left.

Just trying to work out what to do - we want to get a fixed rate with our existing borrower and wondering whether to go for a 3 year deal @ 4.39% or a 2 year deal @ 3.99% (and then overpay up to 10%).

What do people think?

somethingcorporate

Is there any reason you couldn't got for a 5 year?

The deals are disappearing fast but the longer term security around the rates you are talking about should be possible (depending on your LTV).

On a small mortgage like yours you will find changing products every 2-3 years will add a fair chunk on to your mortgage so changing infrequently will help you.

getmore4less

Whats your current deal?

What are the follow on rates?

HUFCsteve

When our current deal expires, we revert to their SVR which is the same as the fixed rate (4.99%).

Likewise when the next deal expires, we go onto their SVR.

There aren't any charges/costs with this as we're not changing our lender.