24/01/2025
I'M UNSURE HOW LONG I SHOULD FIX MY RATE FOR? π€
Other than the obvious length of fixed rate, there are a few key differences between 2, 3 and 5 year fixed rates which may impact your decision on which offering you go for π€
The interest rate of 2, 3 and 5 years have become more similar in recent years, with sometimes the 5-year rates, being lower than 2 & 3 years, however, it's all about the rate.
2 & 3 year fixed rates are perfect for short-term commitment, whether that be you are planning to move, or make significant changes to your situation, being on a 2 & 3 year fixed can allow you the flexibility to make changes without the penalty charges, as waiting for a 2 & 3 year fixed to end is much easier than waiting on your 5!
That being said, 5 year fixed rates can help you beat those remortgage woes, the thought of remortgaging every 2 years is enough to fill many with dread, and having 5 years without remortgaging is great for many.
If you're unsure of which deal is right for you, we'll talk you through your options so you can make an informed decision π€©
Looking for an appointment to fit around work or home life? We can accommodate evening or weekend calls β
Currently looking for a mortgage? Speak to the experts today! We have access to 1000's of rates and over 100 lenders π‘ π
We offer a FREE no obligation initial appointment to understand your circumstances.
Get in touch to see how we can help you!
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