Halifax 2.64% 2 year or 3.34% 4 year

scrub

My IFA has offfered me the choice of either a 2.64% deal for 2 years or 3.34% for 4 years. I'm with the Halifax so both are no charge.

I must admit, I'm not sure what to go for. The 4 year looks good as I thought interest rates may finally start to rise but the lower one is tempting.

Anyone got any thoughts?

getmore4less

Do you need to fix,

What rate would the best long term tracker be?

james3333

scrub wrote: »

My IFA has offfered me the choice of either a 2.64% deal for 2 years or 3.34% for 4 years. I'm with the Halifax so both are no charge.

I must admit, I'm not sure what to go for. The 4 year looks good as I thought interest rates may finally start to rise but the lower one is tempting.

Anyone got any thoughts?

blimey, whats your LTV on this..... i could only get 4.39% last time i renewed with halifax

scrub

getmore4less wrote: »

Do you need to fix,

What rate would the best long term tracker be?

I'm just wary of trackers in case interest rates take off. At least I know what my repayments will be over a set period.

My LTV is approx 65%

opinions4u

Assuming you really do feel you're set for a fair old time, I'd go 4 years.

But you know the pros and cons. At the end of the day, you need to make a judgement call and remember not to regret it whatever happens.

getmore4less

scrub wrote: »

I'm just wary of trackers in case interest rates take off. At least I know what my repayments will be over a set period.

My LTV is approx 65%

Short term thinking on a long term debt

For those that have to fix due to short term contraints where small changes would be a problem or the LTV means the differentials are small fixing makes sense.

If you can't afford the big rises what is going to change to make them more affordable in 2 years or 4 years IF rates take off.

Lower rates/interest to reduce debt(overpayments/savings) are very effective way of reducing the risk of rises.

The other unknown with the need to consider changes in the future is the fees may not be low in 2 or 4 years so any saving is wiped out or your circumstances change and you can't change and stuck with a SVR.