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Are you going for a long term fix or short term fix?
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IAMIAM
Posts: 1,334 Forumite
Wondering what is the general vibe
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Comments
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Recently took out a five year fix at a great rate 👍
MFW 2025 #50: £1139.75/£600007/03/25: Mortgage: £67,000.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
27/12/24: Debt: £0 🥳😁
27/12/24: Savings: £12,000
07/03/25: Savings: £16,5000 -
Current fix ending soon, also pondering on whether to go 2 or 5 year. There's not a huge difference in rate for me. I guess it depends on circumstance - I'm leaning towards 2. Can't see rates increasing that much in the next 2 years. Could eat my words, though!0
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Can you ballpark what a 'great' rate is, please?MFWannabe said:Recently took out a five year fix at a great rate 👍
Researching!Credit cards: £9,705.31 | Loans: £4,419.39 | Student Loan (Plan 1): £11,301.00 | Total: £25,425.70Debt-free target: 21-Feb-2027
Debt-free diary0 -
1.34% 👌 59% LTVannetheman said:
Can you ballpark what a 'great' rate is, please?MFWannabe said:Recently took out a five year fix at a great rate 👍
Researching!MFW 2025 #50: £1139.75/£600007/03/25: Mortgage: £67,000.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
27/12/24: Debt: £0 🥳😁
27/12/24: Savings: £12,000
07/03/25: Savings: £16,5000 -
Yep, that's a great rate.MFWannabe said:
1.34% 👌 59% LTVannetheman said:
Can you ballpark what a 'great' rate is, please?MFWannabe said:Recently took out a five year fix at a great rate 👍
Researching!1 -
We took out a 2 year fix when we bought (now a year in). The main reason was that we knew we wouldn't be in this house long and that we may be able to pay a lump sum off quite soon. We used up the first years 10% overpayment amount. And are about to use the second! The 2 year was a better rate and suited our cashflow, but the 5 year would have been better for a long-term staying put! Our deal was 1.4% with 75% LTV. And 10% overpayment with no charge.
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I took out a five year fixed. I know I can't predict the future but I wouldn't be buying a house if I was planning to be in it for less than that.0
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recently remortgaged , and went in the middle and did 3 years @ 1.7%, 5 years was 2%. ( 2 years was also 1.7%)
365 Day 1p challenge - £371.49 / 667.95
Emergency Fund £1000 / £1000 ( will enlarge once debts are cleared)
DFW - £TBC0 -
Will be remortgaging in the new year for a 2 year fix but our intention is to move house in a couple of years so a 5 year'er isn't appropriate.
Personally don't feel like interest rates are going anywhere for the next two years, maybe five, so if it's cheaper to do a two year fix than a five even when you include any remortgage fees, then I'd probably go with that, even if not planning to move home.0 -
Interesting...0
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