Interest only?

How stable is her job?

How likely would she be to move?

Ultimately it amounts to paying a (potential) premium of 1400 for the peace of mind of knowing your monthly outgoing.

My guy feeling is that interest rates will go up quite a bit over the next few years, in which case that 1400 could look like a good plan.

But really, toss a coin, in the current circumstances, who knows?

Posted By: Cardiff Canary on December 16th 2021 at 16:48:18

Message Thread

Daughter is buying her first flat - interest rate hive mind opinion (General Chat) - jamesward, Dec 16, 16:42:39
- 5, definitely (n/m) (General Chat) - helvegtheowl, Dec 17, 06:53:51
- 5 years, I reckon (General Chat) - Huge Small, Dec 16, 18:54:12
  - Not sure actually. I’ll (n/m) (General Chat) - jamesward, Dec 16, 20:54:24
    - Ask… (n/m) (General Chat) - jamesward, Dec 16, 21:11:34
- Is there such a thing as a tracker these days? (n/m) (General Chat) - KevinBond, Dec 16, 18:53:24
  - Why would you? (General Chat) - Cardiff Canary, Dec 16, 19:15:47
- Fix, fix, and then fix again (n/m) (General Chat) - paulg, Dec 16, 16:56:30
- Interest only? (General Chat) - Cardiff Canary, Dec 16, 16:48:18
  - I always tend to go interest only. (General Chat) - Men without hats, Dec 16, 20:29:47
  - Pretty secure (General Chat) - jamesward, Dec 16, 17:43:37
    - Hello (n/m) (General Chat) - NxNW, Dec 16, 17:58:15
  - Repayment (n/m) (General Chat) - jamesward, Dec 16, 16:55:58
  - Also, premium is reduced by the cost of any new deal in 2 years time (General Chat) - SimonOTBC, Dec 16, 16:51:56
    - Ahhh nifty (General Chat) - Cardiff Canary, Dec 16, 16:58:53
  - My gut... (n/m) (General Chat) - Cardiff Canary, Dec 16, 16:48:35
    - I find it strange these 5 yr deals are available (General Chat) - SimonOTBC, Dec 16, 16:50:27
      - They've got lots of cash (General Chat) - Cardiff Canary, Dec 16, 16:52:39
        
        Yes, but must be in combo with interest forecasts (General Chat) - SimonOTBC, Dec 16, 16:55:17
- 5 year fixed (General Chat) - SimonOTBC, Dec 16, 16:48:15
  - Always (n/m) (General Chat) - Old Man, Dec 16, 17:08:37
    - Finish the message before pressing return. Anyway. Always… (General Chat) - Old Man, Dec 16, 17:11:53
      - Yeah, that gets to the nub of it (General Chat) - Cardiff Canary, Dec 16, 18:26:30
      - 👍 my thoughts exactly (General Chat) - SimonOTBC, Dec 16, 17:20:59
  - Did wonder whether to go 10 year (General Chat) - SCC 28, Dec 16, 16:51:37
  - But that’s also because I know I’m ok with being locked in for 5 years (General Chat) - SimonOTBC, Dec 16, 16:49:16
    - If you move you can usually take the same deal with you though, no? (n/m) (General Chat) - jamesward, Dec 16, 16:55:30
      - Yes if it meets the criteria (LTV etc) (General Chat) - SimonOTBC, Dec 16, 16:57:05

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