MSE News: 10 year 2.39% fix – should you grab it?

marsman802

I'm waiting for a 1.99% 10-year myself. Currently on 3-year 1.99% at the moment

getmore4less

fru-girl wrote: »

@colinm:

I don't think brokers advocate/like 10-yr deals, take the advice with a grain of salt... all those calculations are speculative.. and what's the point in comparing 5 2-yr deals (which incidentally brokers love) with 1 10-yr deal, when there isn't any certitude about what the rates will be for the 2-yr ones? The 10-yr deal offers you peace of mind, knowing what the rate is, being able to plan your finances long term. If it's a low enough rate, which it looks like it is, then you get the best of both worlds - rate security at a low cost, maybe not the lowest around but 2.39% is quite low IMHO.

If you don't do comparisons you have no idea what the security is potentially costing you.

There are plenty of scenario to compare and assess against the current crop of long term fixes. you don't need certainty you can set assumptions and do what ifs.

For those that think that rates are going nowhere another 2year cycle is potentially a good option and review then.