ali-corsa
Member
Registered: 21st Jan 07
Location: Tamworth
User status: Offline
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tbh if i was gettn a mortgage i would get a fixed interest rate, due to the fact if gov rises interest rates ure gna pay more and it looks lyk they r gna keep rising it, to cut spending
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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Niceone Kerry 
Bit more secure that way imo. I don't trust anyone anymore, had the dirty done on me to many times.
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John_C
Member
Registered: 5th Mar 03
Location: South east, Bromley
User status: Offline
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tbh you have missed the boat with fixed rates as they've risen three times plus one more looks likely. If you can hack it variable rate maybe better as your get the benefit reduced rates when they come down over the next year or two
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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a couple of comments
interset only after 25 years you will still own the house but owe the original amount you borrowed
Hence prices are likely to have risen over a 25 year period so maybe not much of an issue but if you lent 100k then you will need to pay 100k after 25 years. Saving that is 4k a year which is alot when you consider out goings with a house etc
I would go repayment
most will not let you pay lump sumsbut allow you to pay extra off each month if you can afford it - my lender allows up to £500 a month extra payments
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