2 yr or 3 yr fixed

jolester

Hi all,

We have to decide whether to take out a 2 yr or 3 yr fixed rate.

2 yr = 2.09%
3 yr = 2.32%

Difference each month is £48.45

Do you think either of these deals are preferred over each other?

Thank you for any thoughts

getmore4less

can you hit the next rate break on LTV in 2 years?

jolester

No, I very much doubt it

jolester

Does anyone have any thoughts on which they'd choose and why please?

sst1234

2 year fixed with extra repayments of £48.45 a month

juniordoc

We went for a 3 year fix because we couldn't move up an LTV bracket in 2 years, also our mortgage product came with a fee which was the same amount for a 2 or 3 year fix so the 3 was better value for money

jolester

I never thought of the fee, that's the same for us whether 2 or 3 year fixed