Thread: Bank of England raises Interest Rate to 5%
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Old 22-06-2023, 21:17   #18
jfman
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Re: Bank of England raises Interest Rate to 5%
Quote:
Originally Posted by GrimUpNorth View Post
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.
Some good rates on savings accounts right now will dwarf the interest at that mortgage rate.
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