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fixed rate or variable gamble
Jill_K_H
Posts: 2 Newbie
I really need some advice, I have a 200,00 outstanding on my mortgage, I have been on interest only, paying back £450 a month, because money was tight was not able to pay an overpayment. I have been offered a fixed rate interest only for five years with the Abbey at 4.74% and my repayments would rise to £868 and would need to pay £460 into an ISA, the other option is to go for a intrest only tracker fixed for two years where my repayments would be £455. Money is very tight for me and i am very unsure whether to take a gamble which is attractive due to the lower payment, any advice about what to do would be very appreciated as I am very confused
Jill
Jill
0
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