U
Munsterdude said:This is always a contentions issue - it depends on you reasons for fixing:
a) You want to try save money by fixing
b) you want the security of having known regular repayments
Thats the regular line of bank ...............security at a price ..... so FTB fall into this trap
.......
If your reason is for b) fire away. If your reason is for b) I have a personal, odd view on this!
It is my contention, that I have never met anyone who has saved money by fixing! I have been involved in the financial sector for many years. I have never seen anyone save money by fixing
ClubMan said:Only fix if you need the predictability/peace of mind of fixed repayments (e.g. your cashflow is tight and can't deal with fluctuations in variable rates).
ok lets look at this one ......
hmm I need predictability/peace so I pay an extra 100 a month when there is a good indication in the market that interest rate are going down...
no I really hate that line I was a FTB once and got the same line from the banks next few month interest rates come down since then I am paying extra for this security all the while the ecomnic data suggested that this was a bad move.
tell me why is this the reason that most people fix ................
Unregistered said:ClubMan said:Only fix if you need the predictability/peace of mind of fixed repayments (e.g. your cashflow is tight and can't deal with fluctuations in variable rates).
ok lets look at this one ......
hmm I need predictability/peace so I pay an extra 100 a month when there is a good indication in the market that interest rate are going down...
no I really hate that line I was a FTB once and got the same line from the banks next few month interest rates come down since then I am paying extra for this security all the while the ecomnic data suggested that this was a bad move.
I don't understand your post. Are you agreeing or disagreeing with me?
tell me why is this the reason that most people fix ................
What reason?
As far as I know fixed rates have fallen since this was posted. For example First Active have just reduced theirs (again?). Once again this shows that there is no point in fixing in an attempt to second guess the market and institutions, time the market and save money. Only fix if you need the reassurance/predictability that fixed repayments bring and/or might struggle if variable/tracker rates increased by a few percent. Otherwise stick with a competitive tracker/variable rate.WizardDr said:Yes now is a good time to fix rates.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?