Almost at a major LTV threshhold - avoid a long fix?

jimbow25

Thank you all for the advice in the thread.

It is a new build (in London) and I appreciate there's a premium associated with living in a new home but I don't believe the value will drop sigificantly, not over say 3 years anyway - apart from the London factor, it is priced about 50k below other typical flats within 1/2 mile due to its proximity to old council flats which are being knocked down over the next two years.

Nevertheless I appreciate the value over the next 12 months could drop whilst this is ongoing and so quickly re-mortgaging may be risky. I certainly won't "avoid" the property but "avoid" the plan to re-mortgage so soon, anyway.

As I have little experience of spending so much on monthly rent/mortgages and I'm fairly risk averse I will just go for the best 5 year fix I can get now and should then get a great LTV when remortgaging 5 years down the line.