Your opinions please.

getmore4less

tidyfinance wrote: »

Barclays 2.6 lifetime tracker (plus bank rate - 0.5%) is a leader at the moment.
And you can move to a fixed without penalty once rates move beyond a comfortable level.
Oh, and a £300 cash back to boot!!:j

Thats more than the SVR(2.5%) rate they are on.

How can this be a leader when there are rates much lower than this out there

Also Barclays don't lend with trackers on 84% LTV

tidyfinance

Take your point regarding the original poster's comment.

This is a good deal/rate for us though.

We're re-mortgaging, so like I say, good for us.
Sorry for jumping-in with my 'personal choice'.

http://www.thisismoney.co.uk/mortgages-and-homes/mortgages-features/article.html?in_article_id=517743&in_page_id=58

Thrugelmir

tidyfinance wrote: »

And you can move to a fixed without penalty once rates move beyond a comfortable level.

And when the fixed term period ends you will have lost the lifetime tracker rate as well. Banks market products to show their plus points.....

tidyfinance

Hopefully I'll be near enough clear by then.
Paying 4.74 at the moment on a 5 yr fix that ends this year. 10 yrs left on my mortgage.
This is why I'm shifting to the tracker at 2.6 (plus the 0.5%). Re-mortgaged due to school fees.

Don't envisage much interest rate shift for most of next year (.75 maybe?). Then like I say, we can jump to another fix for no fees etc, but it has to be a Barclays one. This might be 'slightly' higher than the best market one at that time, but I'll take that for piece of mind. We all have differing circumstances, but I'm leaning to this tracker (although I don't expect it to ever become the 'lifetime' tracker, cos I will no doubt move to the fix in a couple of years).

So why not get a fixed now I hear you say?
Well I'm prepared to keep it as low as possible for at least a couple of the tracker years.

getmore4less

Well I'm prepared to keep it as low as possible for at least a couple of the tracker years.

Last time I had a good look Barclays was not the best option First direct was much cheaper.

The lowest cost tracker is probaly the best option to go for and will result in never needing to fix because it will remain the cheapest option overall..


edit
I thought I would have another look and see what the barclays offers are
Not sure where your 2.6%+base comes from

the ones with the £300 cashback
rate is 2.68% 2.18%+base for 70% LTV
2.98% for 75%

the key point is the switch to a fix is NOT FREE

THE SWITCH WILL BE SUBJECT TO ANY APPLICATION FEE AND RATE SWITCH FEE APPLICABLE TO THE NEW PRODUCT AT THAT TIME. THE NEW PRODUCT MAY ALSO HAVE AN EARLY REPAYMENT CHARGE WHICH WILL NOT HAVE THE BENEFIT OF THE SWITCH & FIX

Curent rate switch fees are £150 + the application fees for fixes are £199 or £999

Barclay(woolwich) have always had a SWITCH & SAVE option that is free to remortgage with them.

These are good without any other fees
All the product have the switch and fix option.