Hi folks,
First time posting here!
What are people’s views on 10 year fixed mortgages? BOI currently have an offering at 3.3% (LTV<80%), which seems very good value to me!
The main risk I see is if there’s a need to break the mortgage, which would result in break fees – but am I right in saying there’d only be fees if interest rates were lower at the point of breaking compared to where they are now?
I guess lack of ability to make substantial overpayments is also a downside, but that’s the price you’re paying for peace of mind I guess!
Are there any other risks that I’m failing to see here?
Cheers!
First time posting here!
What are people’s views on 10 year fixed mortgages? BOI currently have an offering at 3.3% (LTV<80%), which seems very good value to me!
The main risk I see is if there’s a need to break the mortgage, which would result in break fees – but am I right in saying there’d only be fees if interest rates were lower at the point of breaking compared to where they are now?
I guess lack of ability to make substantial overpayments is also a downside, but that’s the price you’re paying for peace of mind I guess!
Are there any other risks that I’m failing to see here?
Cheers!