Fixed rate length

lawslp

Hiya!

Our current mortgage deal is coming to an end and while I'm happy to stay with the provider as I can't see anything cheaper elsewhere, I'm really torn between fixing the rate for 2, 3 or 5 years?

I've read and read until my brain hurts but getting no further forward. Does anyone have any views?

If I do nothing my mortgage rises by about 200 quid so wait and see isn't really an option!

Thanks

foxy-stoat

I would do the shortest fix, as I may want to sell and move before 2024 - but that's me and not you.

Make your choice based on your current circumstances.

lawslp

Thank you ��

medies

It also depends on interest rates avail, switch fees if any, and the size of your mortgage and your LTV band.

Earlier this year I fixed for 5 years at a low rate 1.79%... but then I don't plan to move anywhere in that period of time, and my LTV was already lower than 60%. Peace of mind for five years at a low interest rate was my argument.

Thrugelmir

What rates have you been offered?

fewcloudy

If you've read and read until your brain hurts, then presumably you have already read about all the pro's and con's of fixing for 2 years, versus the same thing for 3 years, 5 years etc?
There's literally 100's of threads on here asking the same thing.
How old are you, size of debt, more kids planned, in first house or settled for life etc etc will all matter when choosing next product.