Should I fix mortgage

[cooper]

Hi Brendan
I have a LTV rate mortgage at 4 % with ptsb. Moving mortgage is not an option at moment or forcible future for us, should i fix at 3.7% for 5 years
i would appreciate your advice. Thanks

 

[Bronte]

Obviously a cheaper rate is better. But would locking you in for 5 years mean you can’t switch banks for a better rate. Or locks you if rates in PTSB reduce.

What is your LTV?

 

[cooper]

my ltv is 4% . but what were earning makes it impossible 2 move. as Elvis says I'm caught in a trap.

 

[Bronte]

I think you are confusing your mortgage interest rate with your LTV. How much is the mortagage and how much is the property worth?

 

[Palerider]

Fixing gives you greater control over probably your greatest monthly outgoing, in that sense it is worthwhile, before you take it check competitors to establish if a better deal is available elsewhere, for me 3.7% is historically low and is therefore attractive.