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5 yr fix v tracker
boogiewoogie
Posts: 3 Newbie
I know this will have been covered many times, but I have the option of a 3.89% 5 yr fix reserved some time ago that will expire at the end of the month. Other option is a 1.99% tracker (ie:2.49%).
Anybody got a crystal ball to know which likely to be most sensible? I could take the hit with some rise in payments, but nervous of large rises within 5 years knowing the chnce to fix is running out!
Anybody got a crystal ball to know which likely to be most sensible? I could take the hit with some rise in payments, but nervous of large rises within 5 years knowing the chnce to fix is running out!
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Comments
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i would fix at that rate!! even just for piece of mind0
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So would I but I have a large mortgage and need the security of payments over 5 years YOU maybe able to gamble about how high and how fast rates will rise in the next 5 years but under 4% for a long term fix is VERY GOOD.
Can you overpay ?
Gamble on a horse today at the grand national not on your home !!!0 -
Personal attitude to risk plays a large part in this question.
Consider questions like:
What can you afford to pay maximum pm?
Can this amount be variable by as much as maybe £50 - £100 pm?
Only you can answer this type of risk question...ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 20270 -
Hill cats you have an amazing mortgage deal. Congrats0
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Fix! 5 years - bargain! The peace of mind that will bring you a huge amount of reassurance at what is a tumultuous (sp) timeFeb 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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