5.84 for 5 years ???

nigel2

my mortgage is due to end and i've been offered a 5.84 fixed for 5 years with no fees from my existing BS is this a good deal? . my main worry is the intrest rates will come well down and i,m stuck i,ve been told that the rates are likly to go up and stay up for another two to three years could this happen ?.

AWT

This is what keeps me away from fixed deals. Of course when rates do fall then the lenders start retracting good fixed rate deals, so it's a gamble as always....

tooney83

i think its quite a good deal, because rate will slowly go up and stay up for a little while by then you probably saved more and when its due to finish you never know there might be a rate less

marty1888

which provider is offering that rate?

Redbedhead

Nationwide are currently offering a fix of 5.58% for 2, 5 or 10 years for a £399 fee (Nationwide members) or £499 if you are a new member.

It also has a 5.43% fix if you are willing to pay a higher fee.

nigel2

marty1888 wrote: »

which provider is offering that rate?

yorhshire bs

deanos

Depends on how big your mortgage is i suppose, Britannia have 5yr at 5.49 - 5.74 depending on what fees you want to pay

http://www.britannia.co.uk/mortgage/fixed/5_year/index.html

MortgageMamma

Have you considered a capped rate mortgage where your mortgage rate falls if the bank of england base rate does, but if it rises it is "capped" at a certain level, i.e. will not go above a cap of say 5.99%

kingkano

MortgageMamma wrote: »

Have you considered a capped rate mortgage where your mortgage rate falls if the bank of england base rate does, but if it rises it is "capped" at a certain level, i.e. will not go above a cap of say 5.99%

Assuming of course you believe the base rate will ever get to about 3.75 or so. The capped rates are based on if the lenders standard variable rate drops below your agreed capped rate. Since the SVR is quite often 2% above the BOE.....