Thinking about fixing your mortgage for 10 years or longer? Here are the pros and cons

Sarah1Mitty2

K_S said:

Sarah1Mitty2 said:

Just_A_Dad said:

Just jumping on this - the swansea and tipton was lifetime discounted - not fixed.
I know this as I applied for the Tipton one and only after the initial searches etc was it confirmed to me that it was a discounted lifetime - NOT FIXED

The MSM was classing it wrong - I did make a complaint to the Broker about it.

Since then I've discovered the Kensington fixed - which is a fixed and I can have it for 18 years

What is the interest rate on that one?

@sarah1mitty2 Page 20 onwards on the Kensington product guide has all the FFFT products/rates as of today
https://www.kensingtonmortgages.co.uk/docs/default-source/product-guides/residential-product-guide.pdf

Thanks   

Sarah1Mitty2

BlueC said:

newsgroupmonkey_ said:

Sarah1Mitty2 said:

Just_A_Dad said:

Just jumping on this - the swansea and tipton was lifetime discounted - not fixed.
I know this as I applied for the Tipton one and only after the initial searches etc was it confirmed to me that it was a discounted lifetime - NOT FIXED

The MSM was classing it wrong - I did make a complaint to the Broker about it.

Since then I've discovered the Kensington fixed - which is a fixed and I can have it for 18 years

What is the interest rate on that one?

As above, for me, it would be 3.09%. I dunno if that's general or the amount I borrowed against a 54% LTV.

If I was refinancing around now, I'd probably jump at that. Interest rates are going one way.

That's not to say that in 10 years time, they're not back down to under 2%, but I like the idea of knowing how much I'm going to pay every month.

3.09% fixed for term is a cracking deal IMO.

Yes that looks pretty cheap.

Just_A_Dad

Sarah1Mitty2 said:

BlueC said:

newsgroupmonkey_ said:

Sarah1Mitty2 said:

Just_A_Dad said:

Just jumping on this - the swansea and tipton was lifetime discounted - not fixed.
I know this as I applied for the Tipton one and only after the initial searches etc was it confirmed to me that it was a discounted lifetime - NOT FIXED

The MSM was classing it wrong - I did make a complaint to the Broker about it.

Since then I've discovered the Kensington fixed - which is a fixed and I can have it for 18 years

What is the interest rate on that one?

As above, for me, it would be 3.09%. I dunno if that's general or the amount I borrowed against a 54% LTV.

If I was refinancing around now, I'd probably jump at that. Interest rates are going one way.

That's not to say that in 10 years time, they're not back down to under 2%, but I like the idea of knowing how much I'm going to pay every month.

3.09% fixed for term is a cracking deal IMO.

Yes that looks pretty cheap.

Yes - sorry for the long reply. 
We had the option of the 3.08 or 3.24 (with fees rolled in - which we applied for) and have just been approved.
I guess the good thing is since we applied - the best rate now offered is 1% higher - so for us its a win/win - we have just instructed the solicitors and just need to complete by December.

Sarah1Mitty2

Just_A_Dad said:

Sarah1Mitty2 said:

BlueC said:

newsgroupmonkey_ said:

Sarah1Mitty2 said:

Just_A_Dad said:

Just jumping on this - the swansea and tipton was lifetime discounted - not fixed.
I know this as I applied for the Tipton one and only after the initial searches etc was it confirmed to me that it was a discounted lifetime - NOT FIXED

The MSM was classing it wrong - I did make a complaint to the Broker about it.

Since then I've discovered the Kensington fixed - which is a fixed and I can have it for 18 years

What is the interest rate on that one?

As above, for me, it would be 3.09%. I dunno if that's general or the amount I borrowed against a 54% LTV.

If I was refinancing around now, I'd probably jump at that. Interest rates are going one way.

That's not to say that in 10 years time, they're not back down to under 2%, but I like the idea of knowing how much I'm going to pay every month.

3.09% fixed for term is a cracking deal IMO.

Yes that looks pretty cheap.

Yes - sorry for the long reply. 
We had the option of the 3.08 or 3.24 (with fees rolled in - which we applied for) and have just been approved.
I guess the good thing is since we applied - the best rate now offered is 1% higher - so for us its a win/win - we have just instructed the solicitors and just need to complete by December.

Good result, the mortgage rates are rising quickly now, pity savings rates are not moving quite so fast.