Going with variable rate first

J

johnnyjb

Guest
Hi im new to the mortgage scene, i actually dont even have one yet and am looking for a small bit of advice regarding variable or fixed.

I notice a fixed rate is always higher usually by 1% or more. But could someone explain the advantages of fixing straight away. I just need to know why people wouldnt just go variable and wait for the rate to rise to what the fixed level originally. I assume then fixing would be more expensive (to compensate for the security of your payments) so where is the benefit.

Could the the variable rate jump up by 1 or 2% in one go ??

I understand i could be completely as the mark so please correct me if possible . Thanks
 
You will get a much better response to your question if you the title of your post in line with the Posting Guidelines.

Please read the before posting again on Askaboutmoney.

Any responses to posts with meaningless titles will be removed.

If the title is not edited within a reasonable time, the post will be deleted.

Brendan
Administrator
 
Was just about to read it

The Pro-NAMA cronies wont win, Keep up the good work
 
You must log in or register to reply here.
Back
Top