Fix for 1 year or two?

Vizard

Hi All

I have to decide quite swiftly whether to fix our gas and electric prices for 1 year or 2. It's over a few properties.

Any views on this appreaciated.

Mortgage_Reduction_Novice

Let me consult my crystal ball and I'll get back to you!

Wywth

Vizard wrote: »

Hi All

I have to decide quite swiftly whether to fix our gas and electric prices for 1 year or 2. It's over a few properties.

Any views on this appreaciated.

Why not hedge your bets and fix some of your property empire for 1 year and the others for 2 years?

Having said that, some suppliers are offering fixed price tariffs for over a year without any early exit fees. Seems competitive (I recently got such a good tariff from EDF for my home, but I think its withdrawn to new applicants now) and nothing to lose with no early exit fees.

Otherwise you should consider the early exit fees in your risk analysis when deciding.

Vizard

Wywth wrote: »

Why not hedge your bets and fix some of your property empire for 1 year and the others for 2 years?

Having said that, some suppliers are offering fixed price tariffs for over a year without any early exit fees. Seems competitive (I recently got such a good tariff from EDF for my home, but I think its withdrawn to new applicants now) and nothing to lose with no early exit fees.

Otherwise you should consider the early exit fees in your risk analysis when deciding.

It's a good suggestion, the reason I am not inclined to do it is that we are talking about a couple of dozen properties for gas and electricity and it is frankly a big enough pain in the neck doing it all together, so splitting it is going to make it doubly irksome.

I am thinking 2-year fix because although there is a risk of prices falling, it is not as great as prices rising and the 2-year rates are quite favourable. Even if I guess wrong the lack of admin time in 1 year will offset a wrong bet.

Wywth

What did you decide 3 years ago?
https://forums.moneysavingexpert.com/discussion/comment/36903690#Comment_36903690

Presumably you fixed for 3 years, hence the current situation.
How did it go?

Are these properties BTL ones you let out? If so, why do you pay the bills rather than asking your tenants to take responsibility for what they consume?

Vizard

Wywth wrote: »

What did you decide 3 years ago?
https://forums.moneysavingexpert.com/discussion/comment/36903690#Comment_36903690

Presumably you fixed for 3 years, hence the current situation.
How did it go?

Are these properties BTL ones you let out? If so, why do you pay the bills rather than asking your tenants to take responsibility for what they consume?

Went for the one year. As I have mentioned, the two-year is appealing in part because of the not having to do it again in 2013!

They are BTL properties, yes. And I pay the bills because the properties are houses in multiple occupation where the tenant pays a fixed price for accommodation and all bills included.

greyteam1959

You really thinks energy prices are going to fall ?????????
No chance.........
Thats totally opposite to what I think !!!!