Fixed or tracker time?

Jett

Hi all,

I appreciate that mortgages are personal and the right deal depends on so many variables etc.

Can you guys give your opinions on whether to stick or twist?

Thanks

feisty1

If yr cautious go for a fixed. If yr prepared for a little risk choose a tracker...SIMPLE

ema_o

I think it depends how tight money is as well. If you can only just afford the best fixed rate you can get then it is safest to fix. If you can afford to pay if rates increase (no idea how much) then you may be happiest taking a gamble.
Martin's example helped me on this one - if I offered you £10 if you won a coin toss but you only had to pay me £1 then it would be worth you taking the bet even though the odds of winning are only 50:50.
For me the risk of interest rates increasing and not being able to pay my mortgage was too great so I have opted to fix at something I can definitely afford. Having said that I could afford to pay quite a bit more for the mortgage, I would just be annoyed to be paying more and more in interest.