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2 year or 5 year fix (another)
ric1982
Posts: 235 Forumite
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?
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?
0
Comments
-
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?0 -
-
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.
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.0
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