good idea to get a fixed rate?

myright

What's a good interest rate on a 4yr fixed rate atm? Or is the rates offered different individuals?

Yorkie1

The interest rate will depend on the lender, how much is being borrowed as a proportion of the value of the house (called LTV), and how much the lender is prepared to lend you.

Anyone who fits the criteria for a lender's particular product will get offered the same rate for that product.

Also, don't forget to factor in the fee for the particular mortgage product. Sometimes, for smaller amounts borrowed, it's cheaper overall to get a slightly higher interest rate and pay a lower fee.

myright

And also when u initially get a mortgage and if it's on standard variable. Can you change lenders any time?

myright

Would you say 2.5 percent 4 year fixed is a good deal?

kingstreet

What in your financial make-up suggests four years is the best period for you? End of a loan, childcare ending, something like that?

myright

What about my question about standard variable

Yorkie1

It's unusual to be on standard variable from the outset in a mortgage deal. However, if there are no tie-in periods then you can change product or lender at any time without penalty. If there are tie-ins then you can still change lender (and, sometimes change product with the same lender) during that tie-in period but there will almost certainly be an early repayment charge which can be £000's.