Wrath Poll: Remortgaging (exciting, right?)

Our current fixed rate ends in Feb and I've had a couple of proposals from our broker, one for a 2 year term and the other for 5 years. Both are identical apart from the 5 year rate is fixed at 0.1% higher than the other.

Gazing into the Wrath crystal ball, which do you reckon is the better option? Short & low or longer & higher?

Cheers

Posted By: WestYorksCanary on December 7th 2020 at 16:33:02

Message Thread

Wrath Poll: Remortgaging (exciting, right?) (General Chat) - WestYorksCanary, Dec 7, 16:33:02
- With regards to interest rates, Yazz knows.. (n/m) (General Chat) - Augustus Pablo, Dec 7, 16:37:18
  - The obvious answer though, is that the banks aren't expecting rates to rise (General Chat) - SimonOTBC, Dec 7, 16:38:19
    - Yep, our current lender offered me identical rates over both 3 & 5 years too so took that (General Chat) - WestYorksCanary, Dec 7, 16:42:34
    - Yep. Personally I’d ask myself “would I be happy with the higher rate if the other wasnt (General Chat) - Augustus Pablo, Dec 7, 16:42:07
      - I'm intending to take a 5 year fixed rate this time next year (General Chat) - SimonOTBC, Dec 7, 16:45:10
        
        I fixed for 5 years as well as no difference in interest rate (n/m) (General Chat) - KetteringRyu, Dec 7, 17:13:12
        
        I've just fixed for 5 yrs (General Chat) - paulg, Dec 7, 16:56:51
        
        Thanks both (n/m) (General Chat) - WestYorksCanary, Dec 7, 16:45:43
- If you assume a £1k product fee (General Chat) - SimonOTBC, Dec 7, 16:35:40
  - No product fees on either (n/m) (General Chat) - WestYorksCanary, Dec 7, 16:40:09
- Questions for you (General Chat) - JoeyDeacon, Dec 7, 16:34:43
  - Yes (will port); no; yes; no; yes (no more than 10% per year though) (n/m) (General Chat) - WestYorksCanary, Dec 7, 16:39:29
    - Rates are currently very low and very competitive if the LTV is low (General Chat) - JoeyDeacon, Dec 7, 16:42:43
      - Particularly as if rates were lower in 2 years time.... (General Chat) - SimonOTBC, Dec 7, 16:46:33
      - LTV is approx 50% (just over) (General Chat) - WestYorksCanary, Dec 7, 16:43:46

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