4 ms·
Fixed-rate mortgages are offered in the UK, but they are only fixed at a good rate for a short period of time (maybe 2-5 years) before they go up to an unreason
by jstanley 1y ago
Fixed-rate mortgages are offered in the UK, but they are only fixed at a good rate for a short period of time (maybe 2-5 years) before they go up to an unreasonable rate, which would force you to renegotiate the mortgage to get the new prevailing rate at that time.
So it's effectively a variable rate anyway.
- MattPalmer1086 1y agoWell, a series of shorter term fixed rates. Which I guess makes it variable over the entire lifetime of the mortgage, but a bit more predictable than a true variable rate. You can get 10 year fixes, but they are of course more expensive than shorter term fixes.