Cable Forum - View Single Post - Bank of England raises Interest Rate to 5%

GrimUpNorth · 22-06-2023, 21:04

When we jumped back on the mortgage band waggon in September 2018 we fixed the rate at 2.64% for 10 years. Seemed a no brainer as interest rates were so low there was only one way they were going to go.

We have unlimited over payments allowed but a high early repayment charge so have so keep it for the initial 10 years, so we are putting best part of £1000 away each month to clear it when the fix ends.

22-06-2023, 21:04	#17
GrimUpNorth cf.mega poster Join Date: Jan 2008 Location: Up North - Where It's Grim Age: 58 Posts: 2,492	Re: Bank of England raises Interest Rate to 5% When we jumped back on the mortgage band waggon in September 2018 we fixed the rate at 2.64% for 10 years. Seemed a no brainer as interest rates were so low there was only one way they were going to go. We have unlimited over payments allowed but a high early repayment charge so have so keep it for the initial 10 years, so we are putting best part of £1000 away each month to clear it when the fix ends.