Soldato
- Joined
- 21 Jan 2010
- Posts
- 3,533
Sometimes 5/10 years isn't a good choice.
People are always saying.. Ooh you should have got a 5 year at 1.x percent. You fool. Rates were always gonna go up.
But it's all just luck. If you got a 5 year at 1.x in 2018 you'd have followed that advice but now you're into the 5s now at 2023 renewal
If you'd have got a 5 year in 2021 you'd be onto a winner.
You can't predict it. Many get lucky. Many get unlucky. But thinking you've done an amazing job is often a fallacy.
Many people can't (and shouldn't) treat thier house and time thier buys by planning for market moves.
As I've said a few times, there is a lot of dumb luck involved.
If our last five year fix had ended a few months months later, that would have been expensive.
I went for an offer in principle before the end of my rate (thanks OCUK people for that tip!) and locked into a good rate.
But it was really dumb luck.