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Tracker or Fixed rate?
Ian_iD
Posts: 98 Forumite
Hello, my discount rate on my mortgage has just comn to an end. I was on a tracker playing interest only but now wondering what to switch to and what good ones are around at the moment.
I confess to being a bit ignorant on these things and some people are saying that the interest rate might shoot up in the coming years because it has gone so low now, so that a fixed might be the best option? Thanks for all help.
I confess to being a bit ignorant on these things and some people are saying that the interest rate might shoot up in the coming years because it has gone so low now, so that a fixed might be the best option? Thanks for all help.
0
Comments
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Whats the follow on rate?0
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4.240?
thanks.0 -
How are you going to pay off the mortgage ?
Have you got a savings vehicle in place?
Have you been offered any deals from your existing lender?
Whats your LTV ?
IF you want long term security and intend to stay in the property long term then now would be a good time to go onto repayment and fix for 3/5 years0
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