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Original poster

How long have you fixed your mortgage rate for?

41 replies

Crustyjugglers · 13/09/2022 12:49

Anyone more economically savvy than myself like to hazard a guess as to what interest rates are going to do in the near(ish) future?! Mortgage deal up for renewal and trying (unsuccessfully) to make a decision between 3, 5 and 10 year fixed!

OP posts:
shivawn · 13/09/2022 16:29

5 years. I'm doubting myself a bit now though, wish I'd gone for 7 years.

captncrunch · 13/09/2022 16:31

We did 10 years. It was a gamble but actually gives us a lot of peace of mind

AelinoftheWildfire · 13/09/2022 16:34

5, only because we aren't sure we want to be in the house much beyond that so 10 seemed too much of a stretch for us to commit to.

DuggeeHugPlease · 13/09/2022 16:36

7 years

DuggeeHugPlease · 13/09/2022 16:36

AelinoftheWildfire · 13/09/2022 16:34

5, only because we aren't sure we want to be in the house much beyond that so 10 seemed too much of a stretch for us to commit to.

You can normally port your mortgage if you move to a new house.

BlackLambAndGreyFalcon · 13/09/2022 16:37

10 years. No regrets!

mightbeyesmightbeno · 13/09/2022 16:38

We fixed 2 rentals on to a 10 year fixed rate recently, but I'm gutted that our residential house isn't up for renewal for another couple of years because I think in a couple of years they will be much higher than they are now.

afuckinggoat · 13/09/2022 16:39

Just fixed for 2 years. They're offering better rates for longer fixed terms because they are predicting that the interest rates will be lower within 3 years.

LesOliviers · 13/09/2022 16:42

We fixed for 5 years at 2.29% back in March. We had the option to fix for 10 years at the same rate and we could port the mortgage if we wanted to move house...my husband wouldn't agree to that for some reason! I'm a bit cross with him that he wouldn't go with the 10 year.

AmberGer · 13/09/2022 16:43

10 years. It will be paid off then too as there's 10 left on the term.
I would rather have the security and peace of mind.
I also predict (no expert and no financial knowledge, just my own thoughts)
That interest rates will be higher in that time than the 3.18% we secured at.

willowtree66 · 13/09/2022 16:46

5 years at 1.76% three years ago. Will have paid it off at the end of the fixed term.

Goldmember · 13/09/2022 16:50

5yrs at 0.99% in Feb. We applied when interest rates were on the floor last October. I've worked out it'd go up by £200pm at the end of the fix based on the current rate.

MaxmaraDress · 13/09/2022 16:53

Mine was due to expire this August. NatWest contacted us last November and advised remortgaging and fixing. 1.51%- big mortgage- 5 years. Had to pay a small amount of early redemption but totally worth it.

Should be paid off within the 5 years hopefully. Its only a 12 year mortgage anyway.

chick1014 · 13/09/2022 16:56

10 years a few years ago at 2.99%

chick1014 · 13/09/2022 16:57

LesOliviers · 13/09/2022 16:42

We fixed for 5 years at 2.29% back in March. We had the option to fix for 10 years at the same rate and we could port the mortgage if we wanted to move house...my husband wouldn't agree to that for some reason! I'm a bit cross with him that he wouldn't go with the 10 year.

Odd that he didn't want to but couldn't say why.

jalu47 · 13/09/2022 16:59

5 years but got the offer back in March as waiting on a property to complete any day. Inflation is going to have to drastically go down before any nudge on interest rates going down - it's not going to happen anytime soon... I'd go for as long as you can.

FrownedUpon · 13/09/2022 16:59

2 years. It looks like interest rates are predicted to drop again within the next couple of years.

Undervaluedandsad · 13/09/2022 17:03

2 years - overpaying at the moment. Hoping for the best in 2 years, if not won’t be more than we are currently paying.

Bestcatmum · 13/09/2022 17:05

5 years thank God. I'm on 0.5 for the duration. Hopefully the economic crisis will be over by then.

sarahc336 · 13/09/2022 17:10

We did 5 years back in June I think they'll continue to rise personally xx

Original poster
Crustyjugglers · 13/09/2022 18:24

Some of you got some great deals there. Our plan was to remortgage and rent out again but we're not quite ready and can't be bothered with another house move for a bit. Kicking myself a bit we didn't go for longer term with current mortgage. Oh well!

OP posts:
caringcarer · 13/09/2022 19:00

I'm just in the process of sorting out two btl mortgages. I have been quoted 3.77 5 year fixed. I am going to take it for security.

autumnboys · 13/09/2022 19:10

Just today agreed 5 years at 3.66% through a broker. We’re not up for renewal until March but the offer is good until then.

pinkroseapp · 13/09/2022 19:12

10 years fixed at 2.49% nearly 4 years ago. It was 20 years mortgage, we pay 10% overpayment every year so far, so will be mortgage free at the end of 10 years term.

Cookiemonster2022 · 13/09/2022 19:26

caringcarer · 13/09/2022 19:00

I'm just in the process of sorting out two btl mortgages. I have been quoted 3.77 5 year fixed. I am going to take it for security.

Is it for company buy to let or personal buy to let?