Family & Relationships8 mins ago
Fixed rate mortgage or not?
3 Answers
One part of my mortgage comes to an end in March and I don't know whether to get another fixed rate deal for 6.39 for 2 years or to go onto the variable rate which is 7.4 and hope it goes down. Which would be best?
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.What makes you think rates are going to go down? Please don't tell me it's because it said so in the paper....
LIBOR and BOE rate have now become detached and the banks are disregarding the BOE rate. There is far too much inflationary pressure to warrant more than a token rate cut in the next few months and banks know it.
http://news.bbc.co.uk/1/hi/business/7206585.st m
If you can afford it I'd say get another fix.
LIBOR and BOE rate have now become detached and the banks are disregarding the BOE rate. There is far too much inflationary pressure to warrant more than a token rate cut in the next few months and banks know it.
http://news.bbc.co.uk/1/hi/business/7206585.st m
If you can afford it I'd say get another fix.