Mumsnet Logo
My feed

to access all these features


Should I fix mortgage at 4.5%

30 replies

HangOnToYourself · 07/10/2022 14:12

Sorry I know it's not an aibu but I've been talking to my mortgage broker and not sure what to do, I'm currently on a variable rat at 4.99 so obviously this may go up. The broker has said they have an AIP at 4.5 % but I'm conscious that is still high and I'm scared to fix at that rate but I dont really have much context and not sure what to do. Is that a stupid rate to fix at?

OP posts:

Am I being unreasonable?


You have one vote. All votes are anonymous.

Littleelffriend · 07/10/2022 15:46

I fixed 5 years at 4.59 yesterday. Not great but not terrible


Jaaxe · 07/10/2022 15:53

HangOnToYourself · 07/10/2022 15:16

Yeah it freaked me out the idea of fixing at that rate for 2 or 5 years but it sounds like it won't be coming down any time soon

Yeah made me feel sick at the thought, wish we’d of fixed for 5 years at the lower rate 2 years ago instead x


Coffeesnob11 · 07/10/2022 16:01

To give you context my colleague is remortgaging and the cheapest rate he can get is 5.9% for a 10 year fix, more for less years.


twocatsandtwokids · 07/10/2022 16:15

Sounds good to me! We just paid over 1K early repayment charge today to fix a portion of our mortgage at 4.64% for 5 years… we worked out that even if we waited a few months for the ERC to end, if rates go up by even 0.5% we’d be worse off over 5 years! And we have 50% LTV to get that rate… so I’d say 4.5% for 5 years is good!!!


Murdoch1949 · 08/10/2022 02:38

If you can afford it, fix, at least you won’t be continually worried.

Please create an account

To comment on this thread you need to create a Mumsnet account.

We're all short on time

Log in or sign up to use the 'See Next' or 'See all' posts by the OP (Original Poster) and cut straight to the action.

Already signed up?

Sign up to continue reading

Mumsnet's better when you're logged in. You can customise your experience and access way more features like messaging, watch and hide threads, voting and much more.

Already signed up?