Are Intrest Rates rising...? Can I set a Fixed term for 10 yrs?

R

rg1150gs

Guest
After our first year at a fixed rate we are now out at a variable rate.
Option now to go back into fixed; question is for how long
2yrs
 
Have you read the many "fixed versus variable" threads that already exist? If you fix for 10 years and find that you want to clear/reduce the mortgage early or move house/mortgage provider then you will be hit with huge fixed rate breakage penalties. Only fix if you really need to - i.e. if you are under cashflow pressure to meet the existing variable repayments or would be if rates increased by a few percent. Otherwise stick with a competitive tracker rate.
 
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