Fix in or go variable?

Kerry1505Kerry

Hi, our fixed term is coming to an end, offered 4.99% which is affordable but only because we are having to extend our term by 4 years, offered variable at 3.29% my question is if any one can help (I know the markets are constantly changing so advice can change) do we fix, or do we risk a variable, if we go variable, and then things go drastically wrong, how quick can we then get a fixed rate and tie in? Weeks/months?

simon_or

https://forums.moneysavingexpert.com/discussion/6402688/to-track-or-fix-that-is-the-question

If you are on a no exit-penalty rate (most tracker rates and some discounted variable rates) you could switch over to a fixed rate whenever you want at no cost.