Fixed rate 2 or 5 years?

MFWannabe

Put your numbers in the calculator below: 
https://www.moneysavingexpert.com/mortgages/compare-fixed-rate-mortgages/

you can then compare two mortgages 

Have a look online and see what rates are available so you at least have some idea 

the mortgage you can get will depend on your personal circumstances so your broker should submit you to lenders most likely to accept your application 

MFWannabe

Choice between 2 or 5 year fix will be personal choice and what you think will happen to interest rates over that period; it’s a gamble 

fewcloudy

Dk1989 said:

I suppose as someone who has never been through this process before has absoutely no idea that I’m being uninformed until people are telling me otherwise. 

Just click the banner heading "Mortgages & Homes" at the top of this page.  Then click "First Time Buyers Guide", and spend as long flicking through it as your attention span will allow.  At the very least learn the very few different types of mortgage product out there like Fix, Tracker, SV etc as you are about to be on one of them very soon!

Then come back tomorrow and read a bit more. Repeat this all week and you'll soon be on here posting advice for others!

Seriously, it's too important and there are too many financial implications for you to be clueless IMO.

eviekins

Dk1989 said:

Yea I do know that. But if I thought we were accepted for our mortgage that I would tell the landlord that we have no where to go until our new home is ready

Please, urgently sort somewhere for you to live. This process could take months!
When I was a FTB the house had no chain and it still took almost 6 months.
You can't expect the landlord to just allow you to stay, I'm sure he has other arrangements in place for the property already.
2 weeks is no time. You need to sort something now.

Dk1989

@eviekins we already have arrangements, we will be staying with family. The only houses to rent have a 12 month minimum contract so we don’t want to rent somewhere until we know what our outcome of our mortgage application is.

Big_Rock

Don’t fix ho for tracker or discounted with no or reasonable ERC … switch to fix when it’s right time 

Dk1989

Halifax as far as I’m aware don’t have a tracker.