Just looking for opinions.
I have a 1.49% fixed mortgage that expires at the end of Feb. The run on rate after that is currently 4.99% but obviously this could change.
My mortgage broker has had a look and found I can either fix for two years at 4.5% or for five years at just over 5%. It's the difference between £750ish a month and £810 a month. House is perfect, I don't want to move, so the commitment of five years doesn't scare me off.
He also said some people are holding off to fix until a couple of months time when the economic outlook is clearer and he thinks there COULD (but obviously not sure) be better fixes available.
My question is would you fix now for either 2 or 5 years and if so what or would you wait it out and see what happens in the next few months with the market?
Tia