Experts - Your opinion please

lizg247

If this was you what would you do?

LTV 85 - 90% - amount o/s £124500.00 over 16 years. Existing deal ends as of 30 Jun 09. Average credit status no disposable income, no major savings as such. approx £2800 per month outgoings, joint gross income of +£55k.

Would you:

Just go with the standard rate of your existing lender and monitor deals closely for the next few months?

Fix for 2 or 5 years?

Track for 2 or 5 years?

Fix for the remainder of the term?

Please feel free to give your opinions and reasons.

Thanks,

Liz.

hearts

I am not an expert. But I have an opinion ;-)

With your High LTV good deals aint going to be easy to find. You don't say who your lender is, some have really good SVRs, some not so good. This is a factor in what you do.
I definitely wouldn't go for a tracker.
I wouldn't fix for 2.
I might fix for 5
I would fix for 10 or longer.
All these decisions of course would depend on the rates offered.