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Fix lengths- currently cheaper for longer
datlex
Posts: 2,252 Forumite
I have another year left on my 5 year fixed mortgage. At time was 90% LTV mortgage on a 90K property at 3.35%. My guestimated LTV based on house prices estimates, solar panels and making overpayments is currently about 50-60% . I try to keep an eye on what it might be for future planning.
One thing I have noticed recently is that some 2 year fixes currently have a higher interest rate than 10 year fixes. Any ideas why this would be?
One thing I have noticed recently is that some 2 year fixes currently have a higher interest rate than 10 year fixes. Any ideas why this would be?
Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.
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because we know prices/interest are going up in the short term but the long term is less easy to predict. BOE might (but prob not) be down to .25% in 5 years.datlex said:One thing I have noticed recently is that some 2 year fixes currently have a higher interest rate than 10 year fixes. Any ideas why this would be?
I'd be calculating what the difference might be on switching early to a 10 year vs 2 year or another 5 year assuming early is possible and in itself not too expensive
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