What fixed term to opt for?

[anonymous-user]

[redacted]

[nyt]

What are your plans? Do you intend to stay long term?

I'd go for the 5 year option. Interest rates seem set to rise and remortgaging is too much of a faff to do every couple of years.

[edthedead]

I have just done some extra borrowing on our mortgage and the difference in monthly payments between the 2yr fix and 5yr fix was about a pound.... in my opinion well worth that pound for the security if rates do go up, I can't see them going down!

[BoRED S2upid]

They won’t be going to 3-5% that’s for sure. The country will be well and truly screwed long before then!

Saying that my next fix will be for 5 years. Why wouldn’t you they certainly won’t be going lower.

[Stevemr]

Cheapest total to pay 5 year fix if you are in no doubt that you are going to stay there.
If you think you may be going to move consider portable mortgage, or mortgage with reducing penalties.

[cupraben]

anonymous said:

[redacted]

That’s definitely not correct. I’d ask your broker to double check or find a new broker (happy to help if I can)

[Rocket.]

If ever there were a time to fix long it's now imo. Having said that every time I have fixed I have seen rates drop away afterwards! but I have always been happier knowing how much I am paying. I cannot see how rates can really be lower with inflation we are seeing now.

[98elise]

Jasey_ said:

To get back to the original Q - Fix for 5 years.

I had a mortgage when the rates went up to 15% - not many thought that was possible either

Same here, it was a tad scary!

I've just remortgaged and gone for a 5 year fixed.

[Stevemr]

Do make sure you look at total to pay for the duration of the fix, not just the rate.