Owning your own home

You are reading a single comment by @Greenbank and its replies. Click here to read the full conversation.

•

stevo_com

Looks like the online application for Halifax is fairly straight forward.

I'm on a 4.79% deal fixed for 2 years until end Sept 2017

Tentative check shows me that I could likely (if I was looking to switch now) get either;

a 2 year fixed at 2.89% - saving me £250 a month

a 5 year fixed at 3.98% - saving me £150 a month

Hypothetically, which of those sounds more appealing?

•

Greenbank in reply to @stevo_com

For risk averse me, I always try and fix 5 years at a time.

It's essentially a gamble on what interest rates will be like in 2 years' time. Still low and you've "wasted" £2400. If they've rocketed up then you could be saving quite a bit more than that over the subsequent 3 years.

About

Avatar for Greenbank @Greenbank started