I have been thinking about doing this for a while… just wondering what people’s thoughts on this are?
The general idea from the “experts” is that they will rise soon… can I stall a bit longer or do you think now’s the time to fix them? One of my IP’s is on a low “honeymoon” rate & I’d like to get some use out of that while it lasts… on the other hand I don’t want to wait too long & end up reverting to a much higher rate in a year’s time!
Opinions???
Hi Soleil,
I have fixed the rates on all my properties in the last 6 months for between 3 and 5 years at rates between 5.95% and 6.39% as insurance against rising rates in the future.
Adds certainty to your position and makes it easier to sleep at night.
It depends on your level of exposure, what your short term plans are and whether you can comfortably withstand rates rising 1 or 2 % in the next year or two.
Ben.
We have a professional package so we get 0.5% discount and no fees from one of the big four. We haven’t considered it as yet due to the constrictive parts of fixing rates – such as extra payment limits, break fees etc.
If things start to head north we may consider but at this stage happy with variable rates (less a bit).
ANZ fixed rates are going up on Monday. 6.4% for three years.
NAB went up last week…..
Glad I fixed mine @ 5.89%!
Cheers,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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