Base rate tracker Mgt

BLC22

Hi,

After some advice from you knowledgeable people!

Our fixed rate mortgage has ended and we are now on a deal which tracks above the the base rate at 1%.

I keep reading about SVR going up and know this does not affect us.

Question is should we look to tie into another fixed rate or stick with the base rate tracker?

Thanks

Gary123456790

Base plus 1% is an awesome deal.

It is up to you if you think the base rate is going to go up, but where you are at the moment is a very good place to be.

It would be wise to use the extra cash to pay off any debts and build up an emergency fund. Once this is done, pay the same as you did originally into the mortgage and you will find you will save years as you are clearing the capital a lot faster.

Gary.

ACG

Without knowing everything its hard to say.
All i would say is, i dont think you will ever get a rate as good as you have at the minute - i would be very reluctant to give that rate up from a personal point of view.

If you tied in to a fixed rate it would most likely cost a considerable amount more each month.

The downside is that in time rates will rise and so will your repayments. But i dont think it will be for a while yet.