Fixed morgage is now the right time

oceanobsession

Would it be worth getting a fixed morgage now i can get a fixed with the
coop at 5.79% fixed for yrs cheers ocean

VIGILANT22

I think you will struggle to get an answer with such little info

When tying in for years...consider if you had to come out of this for some reason how much would it cost

adam_ironside

Personally i wouldn't. Get a tracker - they are lower in fee's (or free if you have enough equity - mine was) and cheap at the moment. Also, most trackers do not tie you in and have penalty's and the like. I have one with HSBC - totally flexible. When rates start heading up, and they inevitably will, you can then fix, and it has not really cost you anything. Many economists think that fixes will not necessarily go shooting up at the same rate as the bank of england rate so a decent fix should still be available wven when rates start heading up again. Bear in mind that rates may not go up for quite a while. There are some doom mongerers about who will tell you the interest rates will be at 12% + in a years time - but to be honest they may stay relatively low for a number of years.

Thats my view - i have saved a ton on my tracker (although mine is at far better rate than they are offering now - 0.69% above BoE)

The problem with a lot of fixed mortgages is the fee's that are sometimes astronomical. But.... if you want the piece of mind that a fix offers then that changes things.