end of tracker - stay on SVR or fix?

henpecked1

In a bit of a quandary. I have put an app in for a 5 yr fix at 5.09%. I come off the £99 mortgage next month where my payments go up to SVR with Abbey currently 4.24%. we havent overpaid as we have had a baby last year.

I am a little 50/50 on the 5 year fix. In one way I will be paying £100 more a month for longer term certainty, but does anyone think mortage dealsmay improve? at the moment my ltv qualifies me for poor fixed rates and excessive trackers, (85%) but i am sure that lenders will become more competitive??

of course, the biggest risk i face is house prices moving south and i get stuck.

decisions decisions

Cannon_Fodder

Rates can only go up. The only unknown is exactly when.

5.09% is a good deal, even at 85%.

Fix.

SimbaSimon

henpecked1 wrote: »

In a bit of a quandary. I have put an app in for a 5 yr fix at 5.09%. I come off the £99 mortgage next month where my payments go up to SVR with Abbey currently 4.24%. we havent overpaid as we have had a baby last year.

I am a little 50/50 on the 5 year fix. In one way I will be paying £100 more a month for longer term certainty, but does anyone think mortage dealsmay improve? at the moment my ltv qualifies me for poor fixed rates and excessive trackers, (85%) but i am sure that lenders will become more competitive??

of course, the biggest risk i face is house prices moving south and i get stuck.

decisions decisions

Have you read the article on here? Is it time to fix your mortgage? Also read the discussion from the article which has quite a bit of useful information here.

Basically its down to personal preference!