Fixed rate ending this November, advise please

ubay250

Hi, I currently have an outstanding mortgage of £67,000 with Santander on a fixed rate (1.75%). They are offering me 3/5/7 years at 3.54% which will make my monthly payments go up by £60. My LTV is 26.80%.
Any advise on how many years fixed rate I should get -- 3 or 5 or 7? Is this a good rate I am getting from my current provider?

dimbo61

If I was a mortgage broker I would sit down with you and do a full fact find about everything !
Age, job, income, pensions, savings, long term plans, kids, etc.
Have you shopped around for the best remortgage deals ?
Rates have gone up!
Are you planning on moving in the next 3/5/7 years ?
Do you plan on overpaying each month ?
So many questions which only you can answer 

ubay250

I tried searching for other deals and I am roughly getting the same results from other providers. The only advantage on me staying with my current provider is there will be no fees, it will just be a package switch.

I am not planning to move in the next 7 years. I don't have plans yet on overpaying my mortgage but I do have an allowance of 10% from my current provider.

I'm 44 years old, permanently employed with over 50K salary and no dependents.

ubay250

I don't think I will get a better deal somewhere else so this question is really a crystal ball one.

At 3.54% fixed rate, I am not sure if i should get 2/3/5/7 years.

Any advise?

bamgbost

Go in the middle. Think rates will keep going up in short term, and peak within 2 years. So 3 or 5 years seems reasonable to me.