Sorry to hijack your thread but what are peoples thoughts of this situation.
£105k fixed until November 2023. 2.5%
Option to change product and fix for 5 years available. £1.1k early repayment charge.
New payment will be £96 more per month than currently paying.
Obviously this is the best part of £2.5k more expensive in the short term but I’m spooked about what my rate could be in 14 months time if this madness continues.
Would you sit tight or fix? If rates get up to 7% then I reckon over a 5 year period I could be as much as £6k better off over a 5 year period. I’m not 100% sure of my maths though.
Originally Posted by johnny778
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