We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!
Stick with lifetime tracker or fix?
Options
sequin123
Posts: 66 Forumite
Hi, I am looking for advice.
Along with everyone else I am getting nervous about the interest rate rises. I currently have a lifetime tracker which is 1.79% above the base rate so currently we are on 4.04%.
The balance of the mortgage is 50k and ends in 2036. We are being offered a 5yr fixed rate at 3.92 which is lower than current rate but I am nervous about being locked in for 5yrs and slim chance we may move.
Before all of the latest news we had talked about over paying to bring the term down to 2030. We fortunately have disposable income to absorb the increases if we stayed on the tracker.
I am not sure which is the best option. Thanks for your help
Along with everyone else I am getting nervous about the interest rate rises. I currently have a lifetime tracker which is 1.79% above the base rate so currently we are on 4.04%.
The balance of the mortgage is 50k and ends in 2036. We are being offered a 5yr fixed rate at 3.92 which is lower than current rate but I am nervous about being locked in for 5yrs and slim chance we may move.
Before all of the latest news we had talked about over paying to bring the term down to 2030. We fortunately have disposable income to absorb the increases if we stayed on the tracker.
I am not sure which is the best option. Thanks for your help
0
Comments
-
Almost identical post here.
https://forums.moneysavingexpert.com/discussion/6389424/tracker-rate-mortgage#latest
1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards