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5 or 7 Year Fix
Options
wilbert_2
Posts: 38 Forumite
Hello
Can anyone provide any comments on whether to fix my mortgage on a 5 or 7 year fixed rate?
My current deal comes to an end at the end of May and I have been to see my existing lender today and they have offered me 5 years fixed at 3.39% or 7 years fixed at 3.79%.
I have an LTV of 56% and have 25 years remaining on my mortgage.
Can anyone provide any comments on whether to fix my mortgage on a 5 or 7 year fixed rate?
My current deal comes to an end at the end of May and I have been to see my existing lender today and they have offered me 5 years fixed at 3.39% or 7 years fixed at 3.79%.
I have an LTV of 56% and have 25 years remaining on my mortgage.
0
Comments
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Any product fees to pay?
How much do you have outstanding on your mortgage?0 -
7 at 3.79 seems best but does depend on what's been asked above.0
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The 7 year seems alright for a 7 year deal.
The 5 can get bettered elsewhere, as per others depends on the added fees..0 -
Depends on your individual circumstances.
We can't tell you what's best for you.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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