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2 Yr or 5y mortgage ?
Options

Misteek
Posts: 205 Forumite

Hi guys
My friends mortgage comes to an end next week with natwest.
She will most likely remortgage with them again.
She's thinking will it be a better idea for it her to go for a 2 Yr or 5 Yr fixed rate. .. is rates supposed to be dropping next year or so?
Also what thinks should he ask her adviser ? Or look out for?
Thanks
My friends mortgage comes to an end next week with natwest.
She will most likely remortgage with them again.
She's thinking will it be a better idea for it her to go for a 2 Yr or 5 Yr fixed rate. .. is rates supposed to be dropping next year or so?
Also what thinks should he ask her adviser ? Or look out for?
Thanks
0
Comments
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We are not soothsayers, and rates are never "supposed" to be going up or down.
Longer fix means maybe missing out on a drop if one happens but also not being hit by a rise for longer
Shorter fix means wouldn't be stuck on a higher rate if things do drop, but then there's exactly the same conversation in two years time about which of the options to take then.
Or if she wants to guarantee getting every drop, get a tracker - but that guarantees getting every rise too.2 -
If your friend has a mortgage advisor then they'll know competitive the rates are that have been offered. Time is short. Dropping onto the SVR will negate any benefit rapidly.1
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Thanks guys
So what are the current interest rates with most lenders? Which is half decent.0 -
Speak to a mortgage broker or be prepared to do your own leg work. Products on offer constantly change.0
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Misteek said:Thanks guys
So what are the current interest rates with most lenders? Which is half decent.1 -
Hoenir said:Speak to a mortgage broker or be prepared to do your own leg work. Products on offer constantly change.
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Misteek said:Hoenir said:Speak to a mortgage broker or be prepared to do your own leg work. Products on offer constantly change.
Some other information is in your other thread:
https://forums.moneysavingexpert.com/discussion/6533491/how-to-renew-fixed-rate-mortgage/p1
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If you are using a mortgage advisor they will be best placed to answer your questions.1
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Misteek said:Thanks guys
So what are the current interest rates with most lenders? Which is half decent.0 -
RelievedSheff said:If you are using a mortgage advisor they will be best placed to answer your questions.0
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