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Is this mortgage interest rate good?!

4 replies

Galaxygirl93 · 23/07/2019 12:37

Mortgage deal of 2 years has come to an end, for the next deals the broker has said I could get either 2 year or 5 years for basically the same cost each month. Mortgage interest rate we've been offered is 1.94%. I have no clue if this is a good interest rate, worth fixing for 5 years and riding out past brexit, or fix for 2 years?

OP posts:
JoJoSM2 · 23/07/2019 16:19

It depends on your LTV.

kidsmakesomuchwashing · 23/07/2019 16:20

Depends on a million different factors - how much you're borrowing, how long it's for, what your house is valued at.
Go to a mortgage broker and they will find you the best deal.

ListeningQuietly · 23/07/2019 16:47

How much is the up front fee?
What rate would you be offered on a tracker ?

UK interest rates will not be going over 2% for the foreseeable future so its about adding up the total cost of the deal

anon812 · 23/07/2019 18:21

As above depends on LTV but I would say it's average. You're not getting ripped off but you can most likely get a better rate than that.

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