New mortgage deal - fix two, three or five years?

[Rhyso]

If you look at the history of the economy things tend to have a pattern.

Do you own your own home??   

This thread is interestingn as im also looking at whats available.  My thinking is to fix long term, especially as my young apprentice is en route and knowing my mortgage is going to be the same is appealing.  Need to see whats out there and on offer

[Agreeable Slick]

Do you own your own home??  

This. If the answer is no, then please shut up.

[OakeyDoak16v]

if you follow the trend i.e. the way rates usually go after a recession. then defo fix for 5yrs  

Yeah there set to go way up so i would do a 5 yr fixed.

[T_J_G]

Why do you have to be a home owner to offer advice? I'm not a home owner but (like) to think I know what I'm talking about!

[bobotheclown]

if you follow the trend i.e. the way rates usually go after a recession. then defo fix for 5yrs  

that's assuming this recession will last at least three or four more years which is more than likely

[Rhyso]

Why do you have to be a home owner to offer advice? I'm not a home owner but (like) to think I know what I'm talking about!

You know what you're talking about Tim 

[T_J_G]

And I am not a homeowner, yet

[VW BUSH]

I just fixed for 2 years with NR this is best deal for my circumstances atm, got a loyalty discount and a drop in rate from std variable at around 4.2 down to 3.6
I am going to move in a couple of years and would have to pay nearly 4k to get out of a 5 year deal in that time frame.
its always a gamble
I only have 13 years left on my mortgage though, which takes me to 50......  sort of



HSBC are doing the best deals on 2/3/5 year mortgages, you need a good LTV on your property and possibly savings to qualify. Worth a visit to see if the computer says no

[gibby]

I am going to move in a couple of years and would have to pay nearly 4k to get out of a 5 year deal in that time frame.
its always a gamble

You know that the rates are usually portable don't you ? So even if you move you will keep the same interest rate on what's left of your original balance. Unless of course you're moving abroad and selling up, in which case you would get stung.

[AudiA8Quattro]

I am going to move in a couple of years and would have to pay nearly 4k to get out of a 5 year deal in that time frame.
its always a gamble

You know that the rates are usually portable don't you ? So even if you move you will keep the same interest rate on what's left of your original balance. Unless of course you're moving abroad and selling up, in which case you would get stung.

Taking the loan with you doesn't always work.
The bank will treat the addition amount as a separate loan, run along the current one.
And surprise surprise the addition loan is no where near as attractive, and the fees can be demanded up front, not added to the mortgage.
Be careful...