+1.39 year tracker-decent value?

Dandytf

Whilst I was considering yet another 5 year fix in approx 3 mths time.

Is a 2 yeaar tracker base rate +1.39 i.e. Currently 1.64 still good vaule?

This would be much more open option for me as I may have to move due to health.

I appreciate rates will rise, though I wonder if Mr Carney will return home and uk rates start climbing much more faster and higher increments.

Is a tracker a fully swapeable product whilst i'm tied to 1 lender or is there anything else I need to consider.

It looks like a win win for me, or am I mistaken

AnotherJoe

Why would Mr Carney going back to Canada change anything?
There are 9 people that vote, he's just one of them.
The voting goes according to economic circumstances and Brexit means rates rise = economic suicide


What would your 5 year rate be?
How much would rates have to rise in the next 2 years for a 2 year plus a 3 year (at say .75% being apocalyptic about it) to be worse than a 5 year?

Dandytf

Yeah agree on My afternoon Mr Carney comment, 1 of 9 mpc voting members.

5.19%yrs current fix until end May (i've just called Natwide, end May is only weeks away I thought end June)

New 5yr fix-no fees, 3.74%-ERPC 5%/4%3%2%1%-think I want to be open to no ERPCS this time.

AnotherJoe

5 year fix is 2% more ? That would be insane to take that. If you think a 5 year fix is better there are surely better deals out there but between those two rates the 2 year wins hands down.

Dandytf

Thanks

2yr tracker it is then in a few weeks time.

Are trackers tied in for the initial 2 yrs -or do I hope rates dont nudge up from next quarter each quarteruntil 2 yrs. time.

Dandytf

AnotherJoe wrote: »

5 year fix is 2% more ? That would be insane to take that. If you think a 5 year fix is better there are surely better deals out there but between those two rates the 2 year wins hands down.

No my error.

5yr new fix is 2.24 reveting to smr 3.74

I've decided to apply switch online in a few weeks and try 2 yr tracker, considering the risk of rate rises over 2 yrs -I've always kept in mind I was +6% 3yr fixed initialy then my current 5yr fix@5.19%

1.64% 2 yr tracker, I could never predicted since 2009-time to make some savings with payments and option of selling if and when required.

Trying to balance mtg with reduced hours@work/reduced earnings,

New mtg could make some substantial savings-at least initialy.

Think I'll give up my overpayments I was making past +3 yrs-only 60 per month.

Considerable savings to be made 400-236.50=163.50