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I think that maybe possibly might be sensible.
This time last year a 5 year fixed was ~1% above base rate, they’re now ~4% above because lenders are building in the prediction of the base rate rising. So if you fix now you’re paying as if the base rate is already 5%, which it might not get to.
Or it might.
Or not.
But giving banks 3-4 times the margin they were happy with a minute ago feels daft. It’ll settle. Right?
Hefty
Fixed price mortgage expires in March... Not looking forward to this. Guess I'm going to ride the variable for a chunk of the year to see if things improve.