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Is it stupid to get the Halifax variable rate mortgage right now?

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Written on: 07.01.2010 [08:50]
Topic creator
Posts: 2
Have I completely misunderstood or is it ridiculous to get a variable rate mortgage at the moment. I thought that fixed rate mortgages were better as I assumed that the base rate will increase in the future. But has that not be proven? Its just a couple of my friends are about to move in together and are thinking of buying their first hosue together. They said they are planning to get a Halifax variable rate mortgage, and I asked them why and they said it was the best way for them to go. How can this be?
Written on: 09.01.2010 [03:01]
Posts: 4
Well I suppose it really does depend on their financial circumstance, how much they want a house and whether they have been refused for other rates. It could be that the Halifax variable rate was the only way they could buy their own house as many fixed rate mortgages are hard to get so they could have tried and failed. This is my reasoning cus otherwise I have no idea why they would choose a variable rate over the fixed rate when the rates are so low at the moment.
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