Tuesday, September 21, 2010

Are UK interest rates more likely to go up or down in the next few years? What makes you think that?

I have decided to take on a loan product at a fixed rate; with options being to have a fixed rate on it for either 2, 3, 5 or 10 years. Would you tend to go for the 10-year option, so you know where you are for the next ten years or maybe a shorter term, to prevent being tied in with no way of changing for as long as that? The total time of loan period remains the same - only the time for which the rate is fixed is being considered here