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Offer of fixed rate.


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I pay 233 on my mortgage, I have been offered by the same company natwest to sign for a 5 year fixed rate of 259.... is this worth doing as i would be paying 26 pounds a month more but it will not go up in 5 years. its hard to work out if this would benifit me in the current climate. I am not moving house in the next 5 years and pay interest plus capital. Mortgage is for 45000

 

 

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It's all a matter of opinion. Fixed rates are on the up due to the cost of swap rates rising. Given that you have a small mortgage balance, moving to a fixed rate is not going to make a big dent in your monthly budget? Fixing is good if you are keen on knowing exactly what you will be paying every month.

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