How long should you fix your mortgage for? The answer doesn't just rely on short-term money-saving, says SIMON LAMBERT
Britain is a nation addicted to short-term mortgage thinking.
Even at a time when we are stretching our finances further to afford a home, moving less, and pushing the life of our mortgages beyond 30 years, we still remain captivated by two-year fixed rate deals.
Five-year fixed rates at under 3 per cent - or even 2 per cent - offer both historically cheap money and the chance to take out a financial product that gives you some financial security.
And yet, a two-year fix is cheaper. So, when the mortgage industry tempts people in with these teasers they don’t need much convincing.
The... read more
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