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To fix or not to fix ?
colzokier
Posts: 9 Forumite
Hi,
We have always had fixed rate deals with Abbey / Santander during the life of our mortgage (which has 8 years 5 months left to run) and i am tempted to take up a fee free offer from Santander to fix for 5 years at 4.29%. Would this be wise just now with the recent talk about interest rates ?
We have always had fixed rate deals with Abbey / Santander during the life of our mortgage (which has 8 years 5 months left to run) and i am tempted to take up a fee free offer from Santander to fix for 5 years at 4.29%. Would this be wise just now with the recent talk about interest rates ?
0
Comments
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I must say 4.29% for 5 years is definitely a very good deal!
I would if I were in your situation.
However you need to keep things in mind for the redemption charges in case you want to overpay more then the allowed % of the mortgage during the Fix.
Best of luck...0 -
The mortgage is spilt across interest only and repayment, with aroung 1 third being repayment, i plan to reduce the term of this part by 2 years so that i am effectively overpaying for the 5 year fixed period. The endowment policy seems to be on target for now.0
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