Financial advice…9 Jan 2022 22:56
Hi everyone. So seems as you guys are impartial, I was wondering what you would do or any advice.
I’m looking to move house, we can’t afford our ‘end home’ yet but with interest rates so low we figured we may as well take advantage and buy a mid way house.
Now with the base rate rise in recent weeks I’m anticipating that there will be more this year.
I’m thinking of fixing in for 5 to 7 years. My thinking is we won’t see interest rates this low again. But the difference between payments on 2 year fixed and 5-7year fixed is quite a lot.
Are any of you guys looking to move house or recently moved?
I fixed in for 7 years when I bought my current house and nearly 4 years later now have to pay around 2.5k in penalty fees so really should have fixed in for 2-5 years but hinds sights a wonderful thing.
Anyway just intrigued to see other peoples views or if you’ve just gone through this yourselves.
:) cheers.