Hi all,
After some opinions.
Currently on SVR at BoE +2%.
Can fix at either 2.49 or 2.59 depending on LTV for 4 years with £900 fee.
With a growing family I like the idea of fixing for 4 years for £225 a year. At the end of the 4 years reckon on being at 50% LTV or lower so still a good place to be if rates did go up.
The negatives, if rates did go up the base rate on the new product is currently 3.99% and ERP of 4% if we had to sell for any reason in those 4 years (no plans to).
I am thinking the only real gamble is will rates go up in the next 4 years that would offset the £900 fee.
What would you do? Am I missing anything?
After some opinions.
Currently on SVR at BoE +2%.
Can fix at either 2.49 or 2.59 depending on LTV for 4 years with £900 fee.
With a growing family I like the idea of fixing for 4 years for £225 a year. At the end of the 4 years reckon on being at 50% LTV or lower so still a good place to be if rates did go up.
The negatives, if rates did go up the base rate on the new product is currently 3.99% and ERP of 4% if we had to sell for any reason in those 4 years (no plans to).
I am thinking the only real gamble is will rates go up in the next 4 years that would offset the £900 fee.
What would you do? Am I missing anything?