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A 5.5x multiple will make you get out of bed in the morning.
A friend of mine in 2012 was acting like the sky was falling in and fixed his mortgage at 4pc for ten years. I told him not to do it.
I was feeling uncharitable once and
worked out he could have replaced both his bathroom and kitchen (which were both absolute shyte) with the amount of extra interest he ended up paying. As it is he fixed unnecessarily high for an unnecessarily long period and it cost him tens of thousands.
princeperch
NickCJ
Yeah, mine was 5 years fixed in July 2014 but I guess our LTV was probably higher than yours and we were restricted in our choice of lenders because we were trying to get 5.5x salaries. I don't remember what the equivalent 2 year would have been, but if it had been 1.59% I would have gone for it!!