New mortgage

Lawman99

I am on a fab tracker at the moment. (1% above base) I have a hunch that inflation and interest rates will sky rocket (due to the bank of England "qualitative easing" or printing money to you and me.

Should I go for a fixed now as an insurance in case this happens ? or stay as I am on the fab deal?

If only we had a Christal ball

originalmiscellany

Well, this is the million dollar qn - if you search you will see this is a thread frequently asked here...
a) No-one know what will happen - I think that it's going to be rather low for the next year, again loads of threads on here go into detail about predictions.
b) If you're paranoid, get a mortgage offer, it will give you 6 months normally for you to either take or cancel, and all you'll do is pay the initial fee- sometimes as low as £99. Thus if rates don't go up in 6 months you lose the £99 but if interest rates increase you've got a great deal.
c) If you're really paranoid, get a 5 year fix - 3.99 is currently the best deal.

But really, read up on the threads first. It's asked most days!

Thrugelmir

Is the tracker rate for life?

Are you making hay while the sun shines and saving into a rainy day pot? Such as an ISA for example.

ACG

Interest rates will rise. But nobody thinks by more than 1-1.5% in the next year or 2.

So i would personally be looking at keeping what i have, making the most of it for 6-12 months then look to tie in.

Lawman99

Thanks for the great advice,

Thrugelmir its a tracker for life- and no I'm (rather foolishly) not putting the money saved into an ISA etc.

I remember about 5 years ago when a got this tracker mortgage, if you would have said you think the base rate would be 1% in 5 years time people would have said your crazy - it's just not going to happen. If theirs one think I have learned - Don't rule anything out!

I came across this - and it got me pretty paranoid stansberryresearch.com/pro/1103PSIEOAVD/LPSIM616/PR

What do you think? (it would not let me post the full link - as I am new)