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Exisitng 5yr fixed offer at 4.23% expiring should I take it
big_vern
Posts: 13 Forumite
I would have to pay £1500 ERC to switch, (current deal expires march 2024)
My current deal is SVR tracker and raised to 4.13% from 1/12/2022.
I am guessing it will rise again with BOE rise forecast n their december meeting.
It seems a no brainier for me to take it but wondered if I am missing something?
My current deal is SVR tracker and raised to 4.13% from 1/12/2022.
I am guessing it will rise again with BOE rise forecast n their december meeting.
It seems a no brainier for me to take it but wondered if I am missing something?
0
Comments
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Depends what you are comfortable with.
For certainty fixed is better.
4.23% is high but no one knows for sure when rates will come down a bit.
The next BOE increase is due on Thursday.
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Unless you want the certainty of a long fix, I'd look at one of the many cheap trackers that are currently available. Even if the BOE rate went up to 4.5% as expected, the tracker would still be below 5%.0
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