Tracker or fixed?

getmore4less

rising_from_the_ashes wrote: »

if I went for one with a £1,000 fee over 3 years that's equivalent to nearly £28/month and even over 5 years, £25 / month.

£1k over 5years at 4% is £18.42 3years is £29.52.

Anyway

I think some trackers will get a bit better when rates rise. but with them available at base+ 1.74% they are allready below say the Nationwide base+2% tracker rate, for most people thta have that the recomendation is keep it so.

If you do the like for like numbers with a tracker and fixed the overpayments on the low cast trackers do give a buffer against rises.

I am another fan of offset especialy if you want some flexability and/or can Stooze some money which is still possible.

With fixed rates dropping there is cheaper money in the market which also hints that the market thinks rates will stay low for a longer than they thought a while back.


Don't forget to look at follow on rates when looking at fixed you never know when the time comes you might not be able to change. Another reason a low cost tracker is a good option ther eis a good chance you will never have to think about a remortgage again unless you move.