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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:
maeveiscurious · 13/09/2022 19:57

7 years in august for 2.3%

ellieboolou · 13/09/2022 20:28

Ours doesn't expire for another year, currently on 1.36 so was advised by my broker to keep current deal for now.

Catatemyhomework · 13/09/2022 21:11

Also don't forget that brokers don't have access to all of the best deals. Sometimes there are banks that don't go woth brokers and you apply with them. That's how we got ours. The broker I used couldn't even come close with a deal. Worth doing your research.

OnceRuralNowUrbanbliss · 13/09/2022 22:59

5 years. Bought this year and sized to accommodate teens who I hope will be fledged or at least at university in 5 years time when I can/should downsize (or naff off in a camper van to bum around Europe for my dotage)

Ifyouknowyouknowyouknow · 22/09/2022 21:17

2.2% for 5 years in June. Paid ERCs to do it.

SalesMum · 22/09/2022 21:21

We fixed for 5
Went from 1.2 to 2.99 so I'm happy with that!

Meredusoleil · 22/09/2022 21:28

We fixed for 10 years back in April at under 2%. So glad we did. Can't see the interest rates going down anytime soon!

MissConductUS · 22/09/2022 21:29

Our last fixed rate mortgage was for 15 years, which was the whole term of the loan. 30 year fixed rate mortgages are very common in the US.

Lots of people here with low fixed rate loans are renting them out rather than selling them when they move.

PauliesWalnuts · 22/09/2022 21:35

Fixed for five years at 1.64 two years ago so three to go and the mortgage is portable. Am hoping to downsize next year depending on the economy, and there’s a large chunk of equity in the house so if rates are still high I’ll pay it off and go mortgage-free.

AnneElliott · 22/09/2022 21:40

We fixed for 5 years at the end of 2021 at 1.2%. Glad that we did and hoping to have paid the mortgage off at the point the fixed rate ends.

FixTheBone · 22/09/2022 21:47

5 years last year.

I was worried it might be too long, but feel like a decent decision now. We have 12 years left in total.

SilentHedges · 22/09/2022 22:48

Came out of rented, bought house, and fixed for 5 years last year. 1.29%. I'll pay off the (6 figure) mortgage in its entirety once the fixed deal ends. The bank will have made just under 6k in mortgage interest out of me. I'm not their best customer.

Callisto1 · 23/09/2022 10:30

Fixed for 5 years at the end of last year, just as the rates started to climb. So we missed out on the 1% rates. We were hoping to upgrade after the end of the fix, but given the economic situation and astronomical house prices we will probably have to stay put.

BoredOfGrey22 · 23/09/2022 11:16

Fixed for 5 years at 0.9%. This was back in October '21. The same deal now is 4.4% with the same lender.

I also think rates will come down by the end of 2023 so I wouldn't be tempted to fix for more than 2 or 3 years at the moment.

Hugasauras · 23/09/2022 11:23

We fixed for five years last year at 1.7%. Thank goodness! Will see what things are like in Jan 2026 ...

PurpleFlower1983 · 23/09/2022 21:00

I fixed at 5 at 1.5% last September, 9 years left. Going to try and overpay or the new rates will be a shock!

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