We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Fixed rate or tracker mortgage?
Comments
-
Tracker it is then!
The lower one has a £995 product fee... Is it worth going for one with a fee?0 -
I'm on the same decision making process now - I'm looking to remortgage a low, £75,000, mortgage.
For that reason, a high fee doesn't suit unless it's a lifetime tracker and I have no intention of moving for a long time - long enough for the interest savings to exceed the fee.
I see a First Direct 1.99% lifetime tracker with a £950 fee and a 2.39% tracker with no fee. In other words, with my mortgage, I'd need to be staying in the house for at least 4 years for one product to beat the other.
The problem is, I've just noticed that Post Office do a 5-year fix with no fee and a rate of 2.79%.
A 5-year fix at a rate of 2.79% seems to be a no brainer over a lifetime tracker at 2.39%.0 -
Follow on rate or another search in 5 years which may be at higher rates with fees.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards