Kelvin Davidson

So the banks seem to be competing pretty hard on that one-year rate.

The two-year rates have gone up.

So maybe the pricing on two-year rates isn't as attractive as it was, but I think people are still seeing that as a decent rate.

Well, they're obviously seeing it as a decent rate because that's what they're logging in for.

And I guess just weighing up those trade-offs of you want to fix a bit longer, but maybe not too long.

So...

So that's kind of what's going on, I suppose, in people's minds is also just that hope that you don't have to roll over in two years time at a peak.

but you know you make your best decision don't you and you sort of you know roll the dice in some ways so yeah as I say chart shows it really starkly but there's been after a long period of everyone floating or fixing for six to twelve months now we've seen just pretty much a mirror image people have stopped that and they're going out beyond 12 months and that two-year rate is definitely the most popular one at the moment so

yeah and as i say it was happening before iran anyway so that's people are anticipating that um that medium term rise in interest rates so trying to get ahead of the curve

Just to say on those lending figures, again, we probably say it every time, but that's relating to new loans.

So it is across house purchasing, loan top-ups and bank switching, so-called loan events, not relating to all those people who are rolling off an existing one-year fix or two-year fix or whatever.

What are they doing when their existing loan comes up for renewal?

However, I suspect that you're facing the same incentives, you're facing the same interest rates.

So I suspect that the new lending data will be a pretty good guide to what people are doing when they're refixing existing loans too.

And I suspect a lot of people are shifting out to those two and three year terms.

So yeah, there's a subtle definition there, but I think you can probably use these new lending numbers to infer what everyone's doing.

So yeah, just a wee definitional thing there.

Yeah, a bit of a juggle.

I mean, I think the highlight for me was probably kind of the value of taking it easy.

You know, we're all so busy with stuff and maybe my friends would say I'm a wee bit too much of a hermit and, you know, sort of stay at home a bit too much.