Is it the right time to get a fixed rate mortgage?

summer2507

Hi,

I will be coming out of a fixed rate in Sept and am undecided wether to remortgage with a tracker or a fix whilst the base rate is only 0.49?

Please advise
Thanks,
Stuart

Thrugelmir

What interest rate does your mortgage default onto when the fixed term ends?

summer2507

The 2yr no fee tracker available with my current lender is 2.99%
I am currently in a fixed rate at 5.1%

Thrugelmir

When your current fixed term product ends. Your mortgage will automatically switch to an interest rate which would have been specified in your mortgage documents or product literature.

Before making any decision see what this is.

Who is your lender?

saxtoda

for example, i'm with the nationwide and drop on to the Base Rate at 2.5% once my 3 yr tracker comes to an end.