# Fixed rate now?



## Knight Rider (Jun 17, 2008)

Hi all.

After some oppinions, I know it may be opposite from different people etc.

We are on a tracker at the mo, and just coming to the end of the deal, and it's gone down even more, which is good, but I think it would be nice to be on fixed.

We have been advised to go for a fixed , for 3 years,. It's approx £120 a month more (paying 500 now) Would it be a good idea to go for it do you think?

Cheers


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## mba (Jun 17, 2006)

What would you LTV be?

What would a 1% increase in base rate equate to on your monthly bill?

I am a first time buyer and just gone for a discounted variable @ 3.89% as the best fixed rate i could get (90% LTV) was 5.99% which = extra £200+ a month!!


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## Knight Rider (Jun 17, 2008)

Hi, approximately 15% (possibly more depending on valuer report) 

I'm thinking that although the payments are dropping all the time at the moment (allowing me to get things like the boiler fixed) they may shoot up and I can't get a fixed rate?

Cheers


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## mba (Jun 17, 2006)

When you say 15% do you mean the LTV is 85%? The next big discount is at 75% LTV

I suppose it boils down to how comfortable are you in effect gambling on the base rate?

I am in a fortunate position were our combined income could cope with a significant rise but i feel quietly confident it wont (although im no expert!!). I think if you are worried about not being able to secure a fixed rate then that is your answer - get a fix rate now


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## Paje (Jun 28, 2009)

Just heard on the radio (radio 2  ) interest rates are predicted to remain low until at least 2012, but as with all predictions take with a pinch of salt..


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## APK (Oct 6, 2008)

Base rate is not predicted to rise till nid/late 2010, possibly rising to 2% in 2 years, they can't increase rates much as that would kill the economy.
Lenders aren't generally looking for new business, and so the rates they are offering tend to be quite high.
Who are you with, what is their SVR?


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