0:00
if you're a first-time buyer, you know,
0:02
you're in a bit of a quandary. What
0:03
should be front of mind for them as they
0:04
try and weigh through all of this? I
0:06
mean, a more volatile world is a more
0:08
expensive world. So, they've probably
0:09
got to balance not only can I save a
0:11
deposit, how much property can I go for,
0:13
but also the costs come around buying a
0:15
house, right? Energy bills around that,
0:16
insurance around that. All of these
0:18
things, in all likelihood, will get more
0:20
expensive as a result of what's
0:21
happening. So, they really need to think
0:23
about their entire monthly budget, to be
0:25
perfectly honest. But, when you're
0:26
looking at mortgage deals in particular,
0:28
it's 2-year, 5-year is often the thing
0:29
to weigh up. 5-year gives you a degree
0:31
of certainty over that time. If that's
0:33
something you can budget for and afford,
0:35
that gives you that security. Whereas, 2
0:37
years from now, I mean, just 3 weeks ago
0:39
we were expecting rates to fall. Who
0:40
knows what the world will look like in 2
0:42
years or 5 years. So, if you want that
0:43
security, opting for a 5-year can be a
0:45
sensible approach, but it really depends
