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Applied for Fixed rate but solicitor says dont as rates will go down by next yr??
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See what banks are charging for long term (5-10 yr) fixed rate.
During that time period, the average base rate will be lower than at least 1-2% than that!
That's just another guess, of course. Or a considered opinion at best.
Maybe you should team up with the OP's solicitor and make millions.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
We went to two independent financial advisors, both based in the City of London. Both said that they expected the rate to peak at 6.25% then lower. Therefore we took out a fixed rate for 2 years at 5.19% as we expect the rate to be the same or lower when we apply for a new deal. I initially wanted a 5 year fixed but we were strongly advised not to do so.0
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Interestingly, the odds of a rate drop before December are pretty tight at 3-1.Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0
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BIrd- hand-bush comes to mind
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