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2.39 BRT (term) or 4.64 (5 year fix)?
ashley10_2
Posts: 7 Forumite
I am currently tryting to decide to go with a 2.39% Base rate tracker or 4.64% 5 year fix mortgage.
I have 40 - 55% deposit if needed but would like to keep a bit back for fees/improvements etc.
I am looking to make overpayments so the 2.39% BRT looks good but am i being a bit shortsighted?
It allows early repayment so does this mean i can jump ship when rises start to happen?
Should rates start to rise generally would lenders hike their fixes quite rapidy or would i still be able to gain a competitve fix rate still?
Thanksfor any help guys
I have 40 - 55% deposit if needed but would like to keep a bit back for fees/improvements etc.
I am looking to make overpayments so the 2.39% BRT looks good but am i being a bit shortsighted?
It allows early repayment so does this mean i can jump ship when rises start to happen?
Should rates start to rise generally would lenders hike their fixes quite rapidy or would i still be able to gain a competitve fix rate still?
Thanksfor any help guys
0
Comments
-
Only you can decide what is right for you.
I would take the 5 years fixed rate at 4.64% rather than a tracker at BofE +2.39%.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0
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