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 We don't like missing low fixed rates

If by any chance you are thinking that the lowest of the fixed interest rates may be behind you and that the only way ahead is up (as many City economists say), then you may not wish to wait and should buy your fixed rate now.

Taking a product along the lines of the West Bromwich building society deal outlined above will get you a great rate - but you could run the risk of longer-term fixed rates creeping up in price whilst you enjoy the benefits of the low first-year payments.

To be certain of avoiding being caught out, you should seek a longer term fixed rate such as the Leeds & Holbeck building society, which has a 4.99% deal fixed to December 2008 that also comes without redemption penalties.


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