Considering tracker mortgage

jamesg99

I'm looking to remortgage and it seems most people are going with fixed mortgages instead of trackers. But, I'm not keen to be tied in as I may move in the next couple of years. I'm considering the 2.1% APR HSBC lifetime tracker special. I realise that the interest rates are due to go up, but they'd have to go up more than 1.6% to reach the HSBC 2yr fixed special. If the interest rates rise significantly, it wouldn't cause me a major problem, so I think I'm willing to make the gamble.

Is there anything I've not thought of? For example, is there a way I can have a fixed mortgage and it not cost me in early repayment fees if I move house before the end of the term?

If it's relevant, I'm currently on a 4.99% SVR.

Thanks.

Thrugelmir

jamesg99 wrote: »

Is there anything I've not thought of? For example, is there a way I can have a fixed mortgage and it not cost me in early repayment fees if I move house before the end of the term?

Yes, choose a portable product. This will enable to transfer your existing mortgage balance to the new property. Any additional borrowing to fund the purchase will be at rates applicable at the time.