MSE Ness: Home owners told to prepare for 5% base rate

Berger

hillcats wrote: »

Same position here, we have a lifetime tracker mortgage that is now BofE +0.62 for life.
No intention of ever changing this one as I doubt it will be able to be beaten for a looooong time.

hmmm. I'm on lifetime tracker of +34%.

However, don't be so sure of your position. There are currently 3-3.5% fixed rates available. If rates jump up very quickly to 4% (for example), these sorts of rates will have disappeared, and you will be on 4.62%.

It's a question of judgment & timing, though like you, I'm sitting tight until they start going up. No point in jumping to 3.5%, whilst I'm on 2.34% (floor imposed) for the forseeable.