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cheapest two year/three fixed!

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I need a mortgage for about 185k on 36500k annually but previously been looking at 5yr fixed, is the longer you fix the cheaper the rate you get?

I have a family member that can lend us the full amount and the will fix the interest for me under any decent bank rate i can find, but they will take a while to get hold of the money because its all tied up in investments.

also once the two/year fixed ends will there be tie in period or am i free to get the loan from my family member pay the back bank and have the mortgage with them?

thanks
robert
Listen to what people say, but watch what people what people do!!

Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    stolt wrote: »

    also once the two/year fixed ends will there be tie in period or am i free to get the loan from my family member pay the back bank and have the mortgage with them?

    thanks
    robert


    There are deals with extended tie-ine i.e. tied in after the fixed rate period.

    However there are plenty of godd deals out there that have no tie-ins after the fixed rate has expired, so you are free to do what you want after that time. There are also a handful of fixed rate deals with no penalties at any time - not too sure what these rates are like as there has been a lot of movement on the rate front

    HTH
    I am a Mortgage Adviser
    You 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.
  • stolt
    stolt Posts: 2,865 Forumite
    herbiesjp wrote: »
    There are deals with extended tie-ine i.e. tied in after the fixed rate period.

    However there are plenty of godd deals out there that have no tie-ins after the fixed rate has expired, so you are free to do what you want after that time. There are also a handful of fixed rate deals with no penalties at any time - not too sure what these rates are like as there has been a lot of movement on the rate front

    HTH


    thanks, i've seen some decent 5 yr fixed and i keep reading on the net an din different tabloids that the fixed rate deals are about to be reduced but a really good three year fixed would do because i would be able to borrow off my family member after that period.
    Listen to what people say, but watch what people what people do!!
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