time to fix vs better tracker

fraser

Hi

Looking for best choice

Presently on 2.49% plus boe tracker 200k mortgage

First direct have just dropped rates

Looking at 1.39% 2 year tracker offset with 1450 fee

Or

2.09% 2 year offset fix no fees

We like the flexibility of the offsets and are presently with first direct, wife on mat leave so hence prob stay with existing lender.

Thanks

amnblog

Watch that fee.


How much is the mortgage required?

marathonic

What is the value of your house? If it's over £308k, you're on less than 65% LTV.

If this is the case, you should be able to switch directly to a 1.29% + BOE lifetime tracker or a 1.09% + BOE 2-year tracker. Neithe of these products have a fee for existing customers.

samba

Damn, I just got offered a lifetime tracker boe + 1.49% with £299 fee (no longer available).

The FD lifetime tracker boe + 1.29% with £950 would save me about £3000 in the long run - not much I know but better than a kick in the teeth.

I wouldn't want to go through all that hassle again however, so I'm just going to have to be philosophical about it.

fraser

450K so we are able to access more products.
I guess the question is whether to fix or not.

The fee deal is still less over 2 years. Just more with a rate rise this year and next.

If that happens tbe fix wins.

This excludes offsetting

fraser

marathonic wrote: »

What is the value of your house? If it's over £308k, you're on less than 65% LTV.

If this is the case, you should be able to switch directly to a 1.29% + BOE lifetime tracker or a 1.09% + BOE 2-year tracker. Neithe of these products have a fee for existing customers.

Got them. Repayment only. But worth considering