MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
We are in the remortgage window after a 5 year fixed with 12 years outstanding on the mortgage.
My gut says a long fixed rate is the way to go.
a 7 year fixed is 1.99% - same as a 5 year fixed and a better rate than we have currently
Any reason not to go with a longish fixed term?
7 year fixed rate with 10 percent possible overpayment and you may well kill a good few of the last remaining years. Make sure it's portable if you have any inkling you may want to move. Stupid as it sounds divorce or splitting from the partner would be the biggest headache.
Seems like a good deal (assuming there aren't any fees). Its a good rate and by the end of it the mortgage will be almost paid off so even if rates rocket* you'll be pretty protected. As above just check the get out options in case your circumstances change.
*I've just fixed so that means they are likely to fall 🙂