Fixed Deal...Your thoughts on 2/3 fix or 4/5 fix

FIRSTTIMER

Hi,


My deal is not due to run out until the end of the year - but what are most peoples thoughts on terms....?


I am LTV of 70/75% and I'm contemplating fixing for 5 years, the only draw back being I can not drop LTV bands after 2/3 year fix deals as I am trapped in a 5 year deal. Will one balance the other do you reckon?


i.e If I fix for 2 years again this year - the 5 year deal in a couple of years time on a lower LTV will end up being the same as fixing now for 5 years on a higher LTV?


Thoughts much appreciated....

Thrugelmir

In an environment where rates are only heading one direction. Fix for the longest time that's appropriate to your circumstances at the point of application. Little point in worrying what LTV you maybe in a some future point in time. Too many factors could blow even the best laid plans off course.

Peelerfart

Agree with thrugelmirr, fix for the 5 year period. An LTV of that percentage is still pretty good and no-one has a crystal ball.

I'm not even gonna mention arrangement costs, I assume you've factored them in if applicable?