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Stateside Tracker Mortgages

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matt80
matt80 Posts: 4 Newbie
in Mortgages & endowments
Hi,

My friend referred me to this site:

http://www.skipton.co.uk/mortgages/products/stateside_tracker/index.asp

Has anyone here got one of these mortgages? I've never heard of it before, but on the surface looks quite good...?

Thanks,
Matt

Comments

  • lisyloo
    lisyloo Posts: 30,077 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    You will find some discussions on this if you search the site.

    Firstly there is a risk that US rates will move against you.

    Secondly there are some high penalties and long tie-ins on this mortgage so if things move against you i.e. US rates go up relative to UK rate, then you will be worse off and unable to get out of the deal.

    It's a gamble basically.

    You just have to decide whether it's worth taking.
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