lazy farmer
Member
- Location
- som/dor border
Borrowed 10 yr money 7.5 yrs ago on variable and haven’t needed to fix it since. But now I’m wondering.
Is it finally time to fix?
- Thread starter lazy farmer
- Start date
Fixed mine at the start of the pandemic at a little over 2% for 10 years. Mainly did it for peace of mind having once been on 13%.
No. You’ve almost paid up, fixing costs will be far more than any rate increase.
midlandslad
Member
- Location
- Midlands
Missed the boat on that one, fixed rates are considerably higher than 12 months ago.
why bother anyway if you have a couple of years left.
why bother anyway if you have a couple of years left.
I doubt 2.5 year fix would be any different than the variable rate would it not?
When fixing you've really got to fix longer than 5 years to get any interest rate differential.
When fixing you've really got to fix longer than 5 years to get any interest rate differential.
icanshootwell
Member
- Location
- Ross-on-wye
What you could do is borrow more money and consolidate what you have left to pay into a new fixed loan.
And anyone wanting a safe investment outside the farm, could borrow as much as possible to buy a residential or business property and to let it to a suitable tenant.
Of course it has its pitfalls, but you are providing a very welcome service to would-be tenants who don't have the capacity or inclination to be owner-occupiers.