Mortgage Ending

alw1971alw1971 Forumite
59 Posts
Eighth Anniversary 10 Posts Name Dropper Combo Breaker

My Current 2 year Fixed Rate Mortgage (1.49%) is ending 31st March.
I have agreed another 2 year fixed at 4.99% to start on 1st April.
Remaining Balance is £25,340 and I have 8 years 6 Months remaining.
I am currently overpaying obviously trying to pay it off sooner.
My question being, should I remain with the 4.99% fix for 2 years (wife is wanting to move) therefore a 2 year fix or should I think 4.79% Tracker?

Our current repayment is £261 a Month.

Any other options welcome.




  • ACGACG Forumite
    22.8K Posts
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    With fixed over tracker you are basically deciding do you want to pay extra for the security. 
    At 0.2% difference, there is not really a buffer. The expectation is that the base rate will go up once or twice more. If it goes up once at the next review, you are already worse off. Obviously if it doesnt go up again you are worse off with the fixed but on £25k , 0.2% must be what? A quid a month difference? 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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