Lloyd's standard variable rate

kara_p_uk

Hi
We have 2 sub accounts on our mortgage.

Sub One is on the old Lloyd's standard variable rate which is guaranteed to be no more than 2% above bank of england base rate. Currently 2.75%

Sub 2 is fixed at 3.78% which ends in February 2020 and goes to the homeowner rate which I think is 4.24%

We are looking at remortgaging to a new fixed and had previously been advised when undertaking the current fix to retain sub account 1 as the guarantee of 2% above was better than the current offers at the time.

We are looking at fixing again for 5 years and have looked at the Lloyd's 2.1% fix.

Would we be silly to fix all of our mortgage and lose sub 1s protection of 2% above guarantee? Or silly not to fix for 5 years reducing our current repayments but knowing in 5 years time rates may be considerably higher?
I realise it's a crystal ball question but just wanted to hear what others were doing.

Thanks
Kara

kingstreet

Probably a sensible idea to get away from Lloyds as their rates aren't great and you should be able to get a sub 2% five year fix with no fee with a lender with a much better record of customer retention products for when the new rate ends.