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Variable Rate Mortgages
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NineDeuce
Posts: 997 Forumite
A very generalised question admittedly....
But how risky are variable rate mortgage products, especially now? Of course, the B of E base rate is unlikely to go down again, but besides this, how regularly do banks and building societies change their rates?
I have a mortgage application with a building society whose best rate is a 5 year discounted variable rate, at around 1.8%, but I have an instinct that even if I had a fixed rate which is even a bit higher, that I am going to be better off.
Comments appreciated....
But how risky are variable rate mortgage products, especially now? Of course, the B of E base rate is unlikely to go down again, but besides this, how regularly do banks and building societies change their rates?
I have a mortgage application with a building society whose best rate is a 5 year discounted variable rate, at around 1.8%, but I have an instinct that even if I had a fixed rate which is even a bit higher, that I am going to be better off.
Comments appreciated....
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