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Longer term fixes - what do we think?
x12yhp
Posts: 801 Forumite
A simple query guys... what is the view on 10 year fixed rate mortgages? I was looking at 5 years but spotted a few at 10 years which cost perhaps £40 a month extra. I certainly would not want to go lower than 5 years but is 10 years a bit too safe? My inclination at the moment is that longer is better because there is absolutely no firm indicator of change coming yet it surely must come eventually...
Thoughts?
Thoughts?
Always overestimating...
0
Comments
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Most financial experts can't even tell you what will be going on this time next year, let alone in 10 years.
Just look at the number of people on here asking about changing from their current rate, as they are paying way over the odds.
Most people are happy looking at 2-3 year deals, and then reviewing at the end, however I suspect from your post though that you may be extremely cautious.
The bottom line is if you want to know what your payment will be for as long as possible, and can afford the premium this brings, then go for it.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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