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Fixed or Tracker
guy999
Posts: 325 Forumite
Would you go for a fixed rate at the moment or a discounted rate
Such as a halifax 5.44 1k fees or Woolwich 5.68 (0.18 ) no fees term?
Any preferences
Such as a halifax 5.44 1k fees or Woolwich 5.68 (0.18 ) no fees term?
Any preferences
A shadowy flight into the dangerous world of a man who does not exist.
A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.
A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.
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Comments
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Depends upon your circumstances. If your budget is tight, I would recommend a fixed rate so that you know what you are paying. If you have a bit of wriggle room, go for the variable rate.
If you go for a non-fixed rate, I personally would go for a tracker rather than a variable one since you won't be stung by your bank nicking 0.05% off you every time the BBR changes (up or down).Many tx to all who post constructively in all the forums!:beer:0 -
It depends on so many factors.
Both deals have their pro's and con's as i'm sure you appreciate.
What's right for one, isn't for the other.
Bear in mind the BBR (currently 5.5%) is predicted to increase further over coming months, but by how much exactly, and for how long, is anyones guess.
Some lenders are estimating a BBR of 6% by end of 2007.
I would recommend speaking to a broker (if you haven't already) to explore your circumstances and preferences further.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Depends upon your circumstances. If your budget is tight, I would recommend a fixed rate so that you know what you are paying. If you have a bit of wriggle room, go for the variable rate.
If you go for a non-fixed rate, I personally would go for a tracker rather than a variable one since you won't be stung by your bank nicking 0.05% off you every time the BBR changes (up or down).
The Woolwich product the OP is referring to is a tracker, and do remember both trackers and discounts are variable rates.
Be careful what you're stating, your last paragraph makes no sense i'm afraid.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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