We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Fixed mortgage - 5yr or 10yr

Options
2»

Comments

  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    fewcloudy wrote: »
    ]
    It's difficult, 5 yrs in the future is crystal-ball stuff, just a gamble.
    If you'd asked in 2006, what are the chances of rates being 0.5% in 5 years, I think the answer would have been "very very unlikely" to say the least...
    Hell, if you'd asked that question even just a year before it happened, it still seemed inconceivable, to me anyway.
    So rates of 5-7% seem 'very very unlikely'.... today:p

    go back and have a look at threads from 2006 onwards.

    wonder how may gave up great tracker rates on the back of get fix rates will go up?
  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If the Bank of England base rate hits 5-7percent in 5 years time then mortgage rates could hit 7/8/9 percent and a huge number of families up and down the country with Large mortgages will be up the creak without a paddle.
    Mortgage repossessions will cause thousands of people to be homeless.
    Rates may well rise but the Bank of England is talking about perhaps 2-3 percent over the next 3/5 years
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    Brexit implies lower mortgage rates than otherwise, because high bank rates are a competitive disadvantage since it leads to a stronger pound, which makes imports cheaper and exports more expensive, the exact opposite of what you'd want.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.