cheapest two year/three fixed!

stolt

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

herbiesjp

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

stolt

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.