Hi there
I am coming to an end of a fixed rate of 3.7% with ulster bank. The best options open to me are SVR @3% or 4 year fixed at 2.6%. It is highly likely that we will move in 18 months to 2 years so I don't think the fixed option is viable as there may be a large breakage fee. However, having always been on a fixed rate I feel less comfortable with the SVR. Would welcome any advice please - are rates likely to shoot up in the next year which may make the svr a bad idea?
I am coming to an end of a fixed rate of 3.7% with ulster bank. The best options open to me are SVR @3% or 4 year fixed at 2.6%. It is highly likely that we will move in 18 months to 2 years so I don't think the fixed option is viable as there may be a large breakage fee. However, having always been on a fixed rate I feel less comfortable with the SVR. Would welcome any advice please - are rates likely to shoot up in the next year which may make the svr a bad idea?