Current 1%+BOE, should I look at a fix!

Inksleeves

Well here's a turn up for the books....

I rang Santander/A+L.

I owe a combined 193K

64.4K (19 years) 5.49 + BOE
128K (16 years), 1.00 + BOE

Monthly of 1224.

They have offered me a lifetime tracker at BOE + 0.99%.

Having it over 16 years means a monthly of £1132.
Just a £225 transfer fee to pay.

Even if the rates rise to 4%, the payment would be £1463. Easily affordable for us.

The FD 5 year fix for the same period would be £1364 PM, plus about £700 in valuation and legal and account fees.

I think the tracker makes the most sense at the moment, it could take 2 years for the interest rate to rise enough for my tracker rate to make a £1300 repayment.
:beer:

Imma_Number

Result! Well done. :beer:

Inksleeves

I said if the rate rises to 4%...I meant WHEN!

drdpj

That's a major win

getmore4less

snap that up quick.

after 5 y you owe less than the higher fixed rate.
pretend you took the fixed an overpay that protects against rises.

cbrpaul

As a old A&L mortgage customer now with Santander coming to an end , i think i need to call Santander to see if they can offer me anything