2 year discounted or 10yr fixed

Simmo

My current discount rate is due to end soon and I cannot decide between
Portman BS 4.79% to 31.1.09 £299 fees To 31.1.09 variable,or
Yorkshire BS 4.95% to 31.3.17 £595 fees To 31.3.17 fixed.
Any advice appreciated. I would hope that after 2 year discount i might get a better long term fixed?

roswell

If your going to stay in the property for 10 years go for 10 year fixed, the fees are higher but unless you know what interedt rates will be in 2 years it might be worth the fees now to save in the future, just the same 2 x 2 year fixes = more fees than the 10 year fix, id dont think you will get a lower rate in 2 years but thats just my opinion.

talksalot81

I would definitely do the 10 year fixed. However I have read in several places that YBS are pulling the current fixed rate deals for new rates very soon (something more like 5.3 or 5.4%).

amyface

There's no hint of the 10 yr fixed on their website, so i wonder if they've pulled it.
http://www.ybs.co.uk/mortgages/current_products/fixed_rates.jsp

FTB83

Simmo wrote:

My current discount rate is due to end soon and I cannot decide between
Portman BS 4.79% to 31.1.09 £299 fees To 31.1.09 variable,or
Yorkshire BS 4.95% to 31.3.17 £595 fees To 31.3.17 fixed.
Any advice appreciated. I would hope that after 2 year discount i might get a better long term fixed?

Hi Simmo

Check the Yorkshire BS offer is still standing - I read an article in The Times this morning which noted Yorkshire BS specifically as withdrawing its two-year fixed 4.99% rate and replacing it this Friday with 5.39%. (I know you said yours is 4.95%, but worth looking into this)

Here's a link to the article:
http://business.timesonline.co.uk/article/0,,9553-2551247,00.html

FTB83

MarkyMarkD

I'd be very surprised if they hadn't pulled it.

Both that product and the Woolwich 10 year fixed were incredibly good rates.

herbiesjp

and woolwich are going up again tomorrow

benood

In my opinion it depends how easily you can afford the repayments. If you are stretched then take the certainty of the fix. Alternatively rather than taking a discount I'd be more inclined to take the best variable rate deal I could - flex from the coventry was the deal we signed up for last.

Simmo

Thanks for everyones advice I have been flat out with work today so am only now sitting down. I shall be checking ybs to see if the offer is still available or a comparable deal is out there. If i cant get a similar long term deal i'm going to go for the discounted. Shall let you know.
Thanks again everyone:beer:

ds1980

Simmo wrote:

Thanks for everyones advice I have been flat out with work today so am only now sitting down. I shall be checking ybs to see if the offer is still available or a comparable deal is out there. If i cant get a similar long term deal i'm going to go for the discounted. Shall let you know.
Thanks again everyone:beer:

this ite still amazes me. THere is no way anyone should evr fix their 10 years!! You never know whats around the corner. I have never had a mortgage over 2 years and never will.

good luck with it but i hope you dont get stung

dwsjarcmcd

Sorry but the YBS product was withdrawn midnight on Monday