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In current climate - would you remortgage at 5.25% fixed for 2 years

10 replies

Twiglett · 06/03/2007 11:48

no overhanging penalties after fixed period

no costs to switch mortgage

OP posts:
Tinker · 06/03/2007 12:45

Depends what matters to you - certainty for 2 years and/or is it cost-effectivish to do so? I doubt (but what do I know?) that rates will rise a lot more in next 2 years but prob will once or twice again. Maybe.

We fixed in Jan for 4.99% for 3 years and I'm mighty relieved we did.

dassie · 06/03/2007 14:13

I have heard that over the life of a 25 year variable rate mortgage the avewrage interest rate paid is 5% (obviously this is based on the past which cannot be relied upon as a guide to future rates blah blah blah) so fixing around the 5% mark is supposed to be prudent.

If you can afford the repayments at the fixed rate and any increase would cause you difficulties, then I think that is really what counts

StripeyKnickersSpottySocks · 06/03/2007 14:18


PeckaRolloverAgain · 06/03/2007 14:20

We have just fixed for 2 years at 5.24% - so Im hoping the answer is yes

hunkermunker · 06/03/2007 14:21

Yes. We're about to fix for five years at a v similar rate, because we need to know our outgoings because we can barely afford the mortgage and I'm not gambling with our home.

Mirage · 06/03/2007 19:49

We did,about 18 months ago.Purely because,we wanted to be sure that we could afford the payments if the rates kept rising.Ours is fixed at 5.25 for 5 years.

Overrun · 06/03/2007 19:50

We've fixed for 5 years for a similar rate, as really wanted the security we me not working

BizzyDint · 06/03/2007 19:52


charliecat · 06/03/2007 19:53

Also get yourself a mortgage pig

prufrock · 06/03/2007 21:23

Yes definately. No arrangement fee? Who's it with? Cos I need to remortgage soon

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