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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To ask for any mortgage experts on here for opinion?

1 reply

NameChangedForTheDay · 21/09/2019 10:14

Just that really. Current mortgage's fixed term rate coming to an end.

I always fix for two years, but am considering five years for new mortgage, mainly due to my nervousness of what may happen to the economy, post-Brexit.

Just after opinion on the pros and cons of five year versus two and also if anyone in the industry is privy to any discussions / rumours / concerns about the market after we leave the EU.

OP posts:
ChazsBrilliantAttitude · 21/09/2019 10:50

The simple answer is nobody knows what will happen to the economy and particularly interest rates. It may be that interest rates will stay low to encourage borrowing or it might be that Sterling will drop too low and they will be raised.

What I did when I refixed last year for 3 years rather than my usual two was to assess how long I needed certainty for. I fixed for 3 years because my eldest finishes school then so one set of school fees drops away. It seemed like a good point to reassess.

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