Why I Chose Another Five-Year Fix on One of My Buy-to-Lets (When The First Five-Year Fixed Rate Finished)
It happened to me last year. I bought a property back in 2020 with a mortgage and, because it’s a slightly unusual property and not straightforward to finance, I ended up taking a mortgage with an initial five-year fixed rate at 5.3%. In round figures, I borrowed £113,500 and the monthly payments were £499.80. I…