Porting Mortgage with Top up

Needmoreinfo101

Hi,

Looking for some advise.

I am currently on a fixed 1.69% rate until feb 2025 to which im porting to the new property with an additional top up mortgage.

I need advise on whether to fix the top up mortgage for 2 years or 5 years.

The 2 years is an extra £25 a month which isnt the issue i need advice with whether if labour do win the election are rates likely to go alot lower as a simple google search says rates will go up in the long run if labour get in. So am i best fixing for 5 years on top up mortgage to protect the 4.59% rate ive got for 5 years??

Any advise is greatly appreciated.

Thanks

chanz4

or labour could force them up lol

Hoenir

Or global influences could send mortgage interest rates down or up.