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  • FIRST POST
    • ric1982
    • By ric1982 9th May 18, 1:36 PM
    • 164Posts
    • 23Thanks
    ric1982
    2 year or 5 year fix (another)
    • #1
    • 9th May 18, 1:36 PM
    2 year or 5 year fix (another) 9th May 18 at 1:36 PM
    Hi,

    Another age old question.

    I have following two options:

    2.44 5 year fix 999.00 product fees
    1.89 2 year fix 999.00 product fees (500 cashback).

    Loan amount is 270K.

    5 year is about 1800 more for first two years.

    Which is better?
Page 1
    • Edi81
    • By Edi81 9th May 18, 2:42 PM
    • 503 Posts
    • 448 Thanks
    Edi81
    • #2
    • 9th May 18, 2:42 PM
    • #2
    • 9th May 18, 2:42 PM
    Better can depend on your circumstances.
    Are you planning on moving in the next 5 years? What is your attitude to the risk of rates being more in 2 years?
    • ric1982
    • By ric1982 9th May 18, 2:46 PM
    • 164 Posts
    • 23 Thanks
    ric1982
    • #3
    • 9th May 18, 2:46 PM
    • #3
    • 9th May 18, 2:46 PM
    Better can depend on your circumstances.
    Are you planning on moving in the next 5 years? What is your attitude to the risk of rates being more in 2 years?
    Originally posted by Edi81
    Thanks. Most prob. not moving.

    If the rates goes up .. up to 0.5 % then its fine but more then that I will be losing money.
    • xyz123
    • By xyz123 9th May 18, 6:41 PM
    • 1,541 Posts
    • 374 Thanks
    xyz123
    • #4
    • 9th May 18, 6:41 PM
    • #4
    • 9th May 18, 6:41 PM
    Thanks. Most prob. not moving.

    If the rates goes up .. up to 0.5 % then its fine but more then that I will be losing money.
    Originally posted by ric1982
    How is your job security and any planned changes to family? If going with 2 year fix, don't forget to include one or possibly 2 product fees when comparing with 5 year mortgage.
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