What is the best type of mortgage in todays market?
should it be a foxed rate or variable? what will the base rate do over the next five years and if I should get a fixed mortgage, what is a reasonable % to fix at?
Which type of mortgage depends on your individual circumstances.... Fixed rate if you feel happier knowing that your monthly payments will be the same during the fixed rate period regardless of what happens to interest rates, or varible if you prefer to benefit from the low rates currently available but with an understanding that as interest rates change so will you monthly repayments.
No one knows for certain what the base rate will be in 5 years time but we do know that it's almost certain to rise!
With regards to what is a reasonable rate to fix at, this will again depend on your individual circumstances but if you would like to contact me at email@example.com I'd be glad to go through this with you in more detail.
Martin | 03.18.12 @ 16:40