iThese are what the market expects today, not predictions and not advice. Real offers depend on your lender, credit history and the day you apply.
Rates ahead
Typical 2-year fixTypical 5-year fixWhere it will most likely land
Typical 2-year deal today, for your deposit
What the market expects a 2-year deal to cost when yours ends
Chance it's higher then than it is now
Your monthly payment
Repayment mortgage, same years left for each. "Do nothing" means rolling onto your lender's standard variable rate, the expensive one you land on if you don't arrange a new deal. We've used a typical one.
2-year vs 5-year
The 3-year rate in two years' time that would make both routes cost the same
What the market expects that rate to be (most likely range)
Chance the 2-year-then-3-year route ends up cheaper
Cost means all the interest plus any fees over five years. One 5-year deal, against a 2-year deal followed by a 3-year deal at the rate the market currently expects. The second deal's rate and fee are assumptions.
Leaving your deal early
Months to recover the exit cost
Months left on your current deal
Net effect over the rest of your deal
Compares staying on your current rate until the deal ends with paying the charge and moving to a typical 5-year deal today. It stops at the day your deal would have ended, which cuts both ways.
Want a nudge when your lock window opens?
Most lenders let you reserve a new rate up to six months before your deal ends. We can remind you, and nothing else.