Re-mortgage How Long to Fix For

joMBW2024

I a currently in the processing of re-mortgaging to buy my ex out of our shared property.  I have been looking at rates and 5 year fixed seems to be the best but with the speculation that interest rates are likely to go down what would others do in the same situation?  Fix for 3 at slightly higher or the 5 years?

RelievedSheff

That depends on how much you value the knowledge of knowing what your repayments will be.

No one knows what mortgage rates will be in the future. Rates may go up or they may go down.

Choose a product that suits you.

Hoenir

What rates have you identified and are there any product fees attached?   Looking at cold hard numbers is the best way of approaching the task. 

Newbie_John

If you can afford both rates then better to focus on how long you are planning to stay there? Long? Take 5. Short? Take less.

The speculation about rates going down has been out there for a while - and recently rates went up 😉 they may go down, but when and how much.. hard to tell.

Do you rates come with fees? What are the rates?