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tracker mortgage
joe_hig
Posts: 1 Newbie
I am in the process of changing from a fixed rate to a tracker mortgage
but rumours of the gov putting pressure on the Bank of England to up interest rates to dampen down inflation has got me worried ,is it a good idea to go with tracker or not
but rumours of the gov putting pressure on the Bank of England to up interest rates to dampen down inflation has got me worried ,is it a good idea to go with tracker or not
0
Comments
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It depends on available rates and your attitude to risk.
What's on offer, how much do you owe, what term, are you paying an ERC, etc, etc?0 -
Joe Hig, if you knew what interest rates were going to do, I would suggest you work in the city and make your millions!
No-one knows what will happen.
As zx81 (my first computer) said,
a) How much do you owe currently?
b) How much is the house (conservatively) valued at?
c) How long is the mortgage for?
d) Do you have savings?
e) Any changes in your financial outlook for the next few years?Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370
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