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Should I fix today for 5 years?
fiddle_sticks
Posts: 5 Forumite
Hi. Current 3yr fix Mortgage with Nationwide ends next month.
Can do a straight 5yr fix now at 4.2% for 15% more per month than paying at moment. No fees.
15yr left on Mortgage.
Can't see any dramatic fall in rates in coming years so for peace of mind it looks a fair deal.
Any advice appreciated.
Can do a straight 5yr fix now at 4.2% for 15% more per month than paying at moment. No fees.
15yr left on Mortgage.
Can't see any dramatic fall in rates in coming years so for peace of mind it looks a fair deal.
Any advice appreciated.
0
Comments
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If that's what you think and peace of mind is what you want, then fix.fiddle_sticks said:
Can't see any dramatic fall in rates in coming years so for peace of mind it looks a fair deal.0 -
Many of us didn't expect BoE to drop the rate in August, I thought it'd be near the end of the year. I'd just go for it and fix for the 5 years for PoM if that's what you're after. I just went for a tracker, let it swing with the wind! 🤔Note:I'm FTB, not an expert, all my comments are from personal experience and not a professional advice.Mortgage debt start date = 25/10/2024 = 175k (5.44% interest rate, 20 year term)
- Q4/2024 = 139.3k (5.19% interest rate)
- Q1/2025 = 125.3k (interest rate dropped from 5.19% - 4.69%)
- Q2/2025 = 108.9K (interest rate 4.44%)
- Q3/2025 = 92.2k (interest rate dropped from 4.44% to 4.19%)
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