Lifetime tracker

gasbag1602

Hi, i am currently deciding weather to commiit my self to a lifetime tracker with nation wide it is .34 above base rate, no fees. The lady in nationwide says that if i wish i can fix at a later date. Bear in mind my fixed mortgage does not end till march i just want to get it sorted. Does any 1 know of a better deal currently or any advise would be greatfully received.... Thanx in advance

Rikki

I've had a lifetime tracker for the last 5 years and I'm very happy with it.

No worrying every so many years looking for a new fixed deal and the costs that incurs.

riad_2

I've heard a lot of people say that for small mortgages it often makes more sense to take out a lifetime tracker as opposed to a 2 or 5 year discount... as for smaller mortgages the costs involved of remortging outweigh the potential savings.

I know that it really depends on circumstances and u need to work it out... but what is typically considered a "small mortgage"... e.g. what's the rough mortgage size where it would typically make more sense to take out a lifetime tracker than keep switching through the discounts?

pipee

gasbag1602 wrote: »

Hi, i am currently deciding weather to commiit my self to a lifetime tracker with nation wide it is .34 above base rate, no fees. The lady in nationwide says that if i wish i can fix at a later date. Bear in mind my fixed mortgage does not end till march i just want to get it sorted. Does any 1 know of a better deal currently or any advise would be greatfully received.... Thanx in advance

C&G do a lifetime tracker at 0.23% above Base for term (with £134 in fees) with no early repayment charges at any time.

gasbag1602

Sorry i forgot to say i only have 90% in the house.

Gorgeous_George

I´m with Britannia at 0.74% above BofE Base Rate for a flexible (off-set) mortgage. With about half of the outstanding mortgage amount in the off-set savings account it works for us and we will see the mortgage complete early. Additionally, Britannia is a mutual and you share the profits each year (after a 2 year qualifying period).

I like it because it avoids the stress of re-mortgaging every couple of years.

GG

silvercar

My offset moves to 0.75%+BOE base rate when the fixed ends this month.

I'm considering whether to move it but the lifetime deal certainly avoids further hassle.

The best offset I have found is under 6% but that is a deal that only lasts 2 years so undecided, may wait to see what fixes come out in the new year.

pipee

silvercar wrote: »

My offset moves to 0.75%+BOE base rate when the fixed ends this month.

I'm considering whether to move it but the lifetime deal certainly avoids further hassle.

The best offset I have found is under 6% but that is a deal that only lasts 2 years so undecided, may wait to see what fixes come out in the new year.

Take a look at the Hinckley and Rugby BS, they have term tracker at 0.24% above with offset available, product is also capped at 5.99% until 30th June 2010 with a £795 fee (available up to 80% LTV)