i have found a 10 year fixed rate mortgage for 4.98%. It seems a good rate and less than my current variable, however, a friend says that if we join the euro in the next few years, our interest rate will go down dramatically and could therefore leave me paying over the odds. what do others think. obviously i would be tied in for the 10 year period with redemption penalties.
i have also found a good 3 year fixed at 4.89, but my worry is that if interest rates rise over that time, when my fixed ends i might have to pay much more on the next mortgage.
what do others think?
thanks
2006-11-28
22:18:20
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7 answers
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asked by
Anonymous
in
Other - Business & Finance