• Whelks_chance@lemmy.world
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    7 months ago

    In the UK it’s quite unusual to have a fixed rate mortgage that goes that long. Normally you’d get a decent rate for 2-5 years, at which point the rate changes to whatever the current default is, and you get the opportunity to fix for another few years

    • Fredselfish@lemmy.world
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      7 months ago

      Well mine isn’t it fix 30 years. You can get one of those our a floating rate but goddamm I was told to only get a fixed 30 year mortgage. Correct that most people do refinance in 5 years but in today’s market no fucking way.