house interest rates- locking in???, page-2

Phil as yourself the following questions:
1) Where do you see interest rates going?
2) What is the maximum interest rate you can afford?
3) How long do you intend keep your first house?

I as these questions as I find fixing rates are a great way to control your costs, but in most cases you don't want to break a fixed rate loan due to break costs.

If you choose to fix you would be best to always keep a certain percentage of the loan in variable that can be paid down quickly with extra repayments.

The other thing to consider is the period for which you lock in for - but for that one you will have to do your own sums based on the rate you can fix it for.