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how long would you get a fixed rate mortgage for?
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We are just buying a house and have never stayed in one for longer than 3 years. However, we are planning to stay in this house for a long time (but circumstances can change), so we wanted to make sure we were able to have some flexibility. We have decided to go with a 10 year fix so that we know exactly how much it is going to be and made sure that the mortgage is portable for in case we move in that time. We've fixed as we think that interest rates will come down for a short time (general election and all that) and then we think they will go up, so that is why we are fixing for as long as possible. Hope this helps.0
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I prefer trackers and have one at BofE base rate + 0.74% with Britannia.
If I was concerned about potential rate rises, I'd go for a 10 year fix but make sure it was portable should I wish to move.
Maybe a capped rate would suit the OP?
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0
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