Fixed interest or variable?
Shaz explains the approach he takes when considering whether to look for a fixed rate or variable rate of interest on mortgages.
Ultimately it’s about your personal attitude to risk coupled with whether the rates being offered for fixed-rate make it worth your while and Shaz shares some great tips about how to find the deal that works for you.
KEY TAKEAWAYS
It depends on your attitude towards risk
Are interest rates going to go up or are they going to go down
Are they going to go negative
With a variable rate, it could go up and it could go down
If you can get a good, fixed rate over five years then it’s worth doing
You can split the loan and have half at a fixed rate and half on a variable rate
If you have concerns about rising interest rates then it’s better to look for a fixed rate
Often the fixed rate isn’t that much higher
Do your research and find the best-fixed rate for you.
BEST MOMENTS
‘If the rate is good why wouldn’t you fix it?’
‘I don’t want the headache of rates going up in a couple of years’
‘Fix some and keep some variable if it’s a commercial deal’
VALUABLE RESOURCES
shaz@aaa-accountants.co.uk
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
Facebook
YouTube.
