Tracker - Am I nuts....

simon_or

I wouldn't go so far as saying a tracker would be right for everyone! For some, yes, but for others a fix would work better.

PK_London said:

Ibits4321 said:

I'm expecting base rate to increase by 2% at the next meeting

With that said, I think a tracker close to the base rate is probably now everyone's best optio

PK_London

simon_or said:

I wouldn't go so far as saying a tracker would be right for everyone! For some, yes, but for others a fix would work better.

PK_London said:

Ibits4321 said:

I'm expecting base rate to increase by 2% at the next meeting

With that said, I think a tracker close to the base rate is probably now everyone's best optio

Of Course anyone should seriously look at the numbers however given base rates are 2.25% and mortgage rates are almost 6.25% I can't see how that 4% increase over the base rate is justified. It may be just temporary market jitters in which case base rates could rise further while mortgage rates could fall as mortgage rates are usually only 1-1.5% or so above base rates.

I cant see how committing to such high fixed mortgage rates can be justified when the base rate is still relatively low. Going on a tracker means you can wait for a better fix rate.

I really dont envy anyone having to make a re-mortgaging decision right now

chrisrawles

The mortgage deals I was looking at yesterday with my advisor were pulled from the lenders at lunchtime today!  This is the 2nd time in a week this has happened.

Back to the drawing board....