Hi everyone,
I'm currently looking at mortgages in preparation to buy in about 6 months. I'm a first time buyer and want the security of a fixed rate to begin with. I will look to get a mortgage 75 LTV.
I have seen a deal offering 2.54% for the first 2 years and after the first 2 years are over it becomes 5% for the remaining mortgage.
If I intended to find a new better deal after the 2 years does it matter that the rest of the time it's over 5%? What factors do I need to consider for looking further ahead in 2 years time? Would it be things like exit fees? I have only just started looking at mortgage products so please forgive my ignorance!
Grateful for views.
KS:)
I'm currently looking at mortgages in preparation to buy in about 6 months. I'm a first time buyer and want the security of a fixed rate to begin with. I will look to get a mortgage 75 LTV.
I have seen a deal offering 2.54% for the first 2 years and after the first 2 years are over it becomes 5% for the remaining mortgage.
If I intended to find a new better deal after the 2 years does it matter that the rest of the time it's over 5%? What factors do I need to consider for looking further ahead in 2 years time? Would it be things like exit fees? I have only just started looking at mortgage products so please forgive my ignorance!
Grateful for views.
KS:)