Which fixed rate for mortgage?

[Matt99man]

So there is 1.69% for 2 years, 1.94% for 3 years and 2.29% for 5 available.

Usually I go for the lowest option but this time I’m not sure with future rises, what’s everyone’s thoughts?

[London424]

Matt99man said:

So there is 1.69% for 2 years, 1.94% for 3 years and 2.29% for 5 available.

Usually I go for the lowest option but this time I’m not sure with future rises, what’s everyone’s thoughts?

Am just about to go with 5 years...I'll probably be wrong again as I was on my last 5 year deal, but at least I know where I am with things.

All the noise is that want to increase rates as they'll need some wiggle room in the future to cut things again, but who knows!

[ZOLLAR]

London424 said:

Matt99man said:

So there is 1.69% for 2 years, 1.94% for 3 years and 2.29% for 5 available.

Usually I go for the lowest option but this time I’m not sure with future rises, what’s everyone’s thoughts?

Am just about to go with 5 years...I'll probably be wrong again as I was on my last 5 year deal, but at least I know where I am with things.

All the noise is that want to increase rates as they'll need some wiggle room in the future to cut things again, but who knows!

I went fixed 5 year rate last October for about the percentage you've, a myriad of reasons however the main being just knowing what the mortgage payment is set at for 5 years (useful considering I have wedding coming up).

[The Ferret]

I've just taken a 5 year fixed at 1.89%

While I don't see rates increasing dramatically over the next 5 years (maybe 1% absolute max) I also don't envisage seeing deals like this around in the future. I won't be selling voluntarily again now so the only real risk is if something happens to my job and I get hit with an ERC.

[toddler]

Matt99man said:

So there is 1.69% for 2 years, 1.94% for 3 years and 2.29% for 5 available.

Usually I go for the lowest option but this time I’m not sure with future rises, what’s everyone’s thoughts?

I looked at 2, 5 and 10 year fixes when I moved last summer. Concluded that: 2 was too short (uncertainty around Brexit and interest rates, and the hassle/cost of remortgaging); 10 was too long (who knows what the future holds, and ERCs); 5 was a good compromise for me. Fixed at 2.1% (27% LTV, 15 year term, no product fee, £1000 cash back).