Accord "tracker to fixed" - views?

Abatement

Chin wrote: »

We did tracker to fixed ourselves with YBS.

Great product - best of both worlds but overpay now whilst the rate is low.

If you have a clean credit history you can do this yourself with YBS direct no problem.

OK, maybe I'll go direct to YBS then. Can you remember what the turnaround time for the mortgage approval was?

steviehud37

hi Guys

Just been on YBS web site -tracker to fix has changed -the fix part is now 3.79% instead of 3.39%

is this a sign that rates may be going up? or demand was too high?

Meeper

Either. Or both. Or perhaps neither.

oh_know

Was putting off the application until this week so looks like I have missed out. Dont think I am going to find anything much better for what i am after.
The way i see it it is still a good deal:
2 YRS:
2 years at 1.79 over base rate (currently 2.29) My reckoning is that base rate will stick for a good 6-9 months and then maybe eek up a bit and not too rapidly, so I reckon it could well be up around the 2/2.5 mark for the last 6 months of the track, meaning it would be 3.79-4.29 which aint too bad.
THEN 3 YRS:
@ 3.79

It means I know where I am over 5 years and means no costs of moving the mortgage during this time. And it allows for overpayments. (I noticed that some of the HSBC deals dont allow for much in the way overpayments {20% of monthly amount})

System

probably a bit late on this thread, but just had to comment as was in exactly the same position. I had booked my appointment at YBS, and had talked myself into the tracker to fixed 5 year deal. Unfortunately 2 days before my appointment, the rate changed as previously stated. Was a bit disappointed to say the least (wish I had just applied online now).

Therefore changed my mind and went for the 5 year fixed rate offset (3.59%, 495 fee, free legal+valuation).

At the end of the day it is all relative. In the grand scheme any rate under 5% is cheap and when we come to remortgage in 5 years we are unlikely to get this.

Enjoy while you can!