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Some brokers ‘have stopped recommending five-year fixes’ – Star Letter 12/08/2022

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  • 12/08/2022
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Each week Mortgage Solutions and its sister title, Specialist Lending Solutions, pick the top comments from our readers.

This week the comments come in response to our Star Letter last week in which the user Sox said they were cautious to recommend five-year fixed rates.

This week Robert said: “They make a very good point. To fix for five years means you believe that the alternative overall would have been more expensive for the majority of that period, taking into account possibly two or more product fees for two and three-year fixed rates.

“In my sector of the market, limited company and houses in multiple occupation (HMO) buy to let, I could get 3.1 per cent for a five-year fix, but now that is significantly over four per cent for most five-year fixed so I am not so sure [I would recommend them].”

Spinmeister added: “Agree completely with Sox. Have stopped recommending five-year fixes about three weeks ago.”

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