Q My girlfriend and I have finally saved up enough money to buy a flat in London. We are first-time buyers, and are nervous about future rises in interest rates (after all they can only go up, it's just when and how quickly, right?). Should we opt for the shortest initial term on a mortgage, in the hope we are free before rates rise and can fix the rate then? Or should we hedge our bets now, and fix for three, four or five years safe in the knowledge that when rates do eventually go up we'll be locked in (relatively low) for a while? What does your crystal ball say? TE
A My crystal ball is silent on the matter but economists seem to think that the Bank of England base rate is unlikely to rise this year. However, ......
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