Lifetime Tracker?

sundaygirl_2

Hi looking for some advice on remortgaing.

I have came to the end of my fixed rate with Egg but the SVR is the same as the fix 5.29% so I should probably remortgage quickly but I'm not sure what to do.

I was considering some 3 or 5 yr fixes which are all better than I have but nothing special so I wondered if applying for one of these lifetime tracker things with no exit fee would be worthwhile for the time being or is it silly to switch now then be looking at switching again when rates look to rise which is apparently soon?

I have £58000 left which is about 70% LTV.

I am looking at HSBC tracker that is 2.19% above BOE.

Even if rates go to 3% I am still better off but should you not switch too often?

This would be my first remortgage.

Gorgeous_George

You can switch as little or as often as you wish but watch out for admin fees, legal fees, survey fees etc.. I love my lifetime tracker but it tracks at less than 1% above base rate.

If you think base rates are not likely to rise sharply (as I do) then a tracker is a good option. If you think rates will rocket soon, fixing could be best. It is your choice. Whatever you do, have a plan B.

GG