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Longer terms equal better rates?
BoBoDobie
Posts: 295 Forumite
I’m thinking about the term length when I remortgage to either keep it the same (21 years - if I did this option I would overpay) or reduce to 15years. When I reduced 21 years to 15 on my Barclays app, it reduced 26 offers to 3. I hadn’t realised it would make so much difference
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Comments
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Is it only displaying 5 year + fixed rates?
If so, it could be due to affordability.
The way the affordability is calculated is different on 5-10 year fixes than it is with 2-3 year fixes or variable rates.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
It sounds like it is down to affordability rather than anything else.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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