Fixed rate, 2 or 5 year

allanmce

Hi,

I was a first time buyer 2 years ago and come the end of April my current fixed rate deal with halifax be ending

Interest rates seem very low at the moment so I was wondering should i go for another 2 year fixed or a 5 year fixed?

Thanks

kingstreet

IIRC, Halifax PT options are two years and four years, so see what they are.

Then compare with remortgage options and see how they look. Don't forget, if changing lenders you'll have at least the Halifax MAF to pay and possibly some other fees if they aren't all met by the new lender.

andyfromotley

allanmce wrote: »

Hi,

I was a first time buyer 2 years ago and come the end of April my current fixed rate deal with halifax be ending

Interest rates seem very low at the moment so I was wondering should i go for another 2 year fixed or a 5 year fixed?

Thanks

They do indeed seem low. If you are not planning on moving then you may want to fix for as long as you can. Thats what i'm doing but thats because its right for me. Also because i ask myself 'is it more reasonable that rates will go down or up in the next five years?' I can only reasonably guess in one direction of travel.

You have to make your own decisions and stand by them.

dimbo61

So you bought your first home 2 years ago
Now this could be a studio flat in the centre of London or a 3/4 bed house with 2 empty bedrooms ready for the family you want to start ?
Can you see yourself living in the property for at least the next 2/5 years ?