SVR fix or wait?

[hellsbellz]

Hi there,

We've been offered by our bank a 4.24% SVR fix for a year with no fees. It would start Oct 10 - Oct 11. Our loan to value around 20% so not great to shop elsewhere.

Unlikely interest rates will fall below current 0.5% but do you think interest rates will increase anytime soon?

what would you do or done??

thanks

[mintyfresh]

Hi hellsbellz
We've just got a fixed rate mortgage for 2 yrs - would have loved to fix for longer but rate was much less attractive. Is hard to say when IR's will start to rise but I have read it may be another few years yet because the budget cuts are based on having low IR's so that the economy doesn't crash (hopefully!).

Sounds like you've got a good rate with no fees - you could try a few others for fixed rates HSBC and Santander have some good rates..