Remortaging - 3 or 5 year fix

gmgohara

Currently have a base rate + 1.99% tracker mortgage.
Value of mortgage balance is circa £165K
No issues with credit etc
Loan to value is 52%


Looking to remortgage to take advantage of fixed rate for the next 3 to 5 years


Any guidance as to the length (3 years versus 5 years)


Any pointers in respect of decent providers / offers

dimbo61

If you are going to leave what is a very good tracker which could last 20years then I would take the longest fix I could IF ? You have no plans to move in the next 5/7 years.
What is the follow on rate when the fixed deal ends SVR.
You will also have fees to pay unless you stay with your current lender.

andyfromotley

go for the longest fix you can within your circumstances.only you know if you're likely to move or not.

miketaff1408

First Direct have an amazing 10yr fixed product suitable for your LTV (65%). 2.89%. Must have a first direct current account. If you don't have one, can't see why you cannot open an account then apply straight away for the mortgage.

Perfect if you are worried about longterm interest rate rises.