Re-mortgage fixed rates advice

LouLouHelen

meanmachine wrote:

If you can possibly fix for 25 years - and many lenders will offer this - I'd go for it, as IanW says, despite the recent nudges up, IRs are still historically very low.

I can tell you with a degree of certainty that they're unlikely to go back down to 3.5% - that was a one off brought about by the US slashing their rates to just 1%. It also coincided with the UK thinking about going into the euro.

Neither of those things are now the case.

So, over a 20 year period, do I think rates will rise above 4.75%? I would say definitely. But for how long and how often? Who knows.

So you would say it would ok to fix for the whole mortgage term? Isn't that a long time to know what you are going to be doing? What type of penalty would it cost if for example you were to spilt with your partner and need to sell the house 7 years in?

Only asking because I quite like the sound of fixing long term but feel I should be worried about the inflexibilty of it.

Thanks

harrisc

Hi - where can I find out about 25year mortagages? What is the best deal out there for such a thing - need one for either 80k or 100k depends if we borrow for an extension. Thanks