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Fixed or tracker?
charleneann09
Posts: 35 Forumite
My current mortgage runs out in May. I'm thinking of getting a tracker mortgage as I'm expecting the interest rates will go down and don't want to be stuck with a high rate. My husband disagrees and wants to go for fixed 2 years.
We only pay about 200 a month and only have 27k left, don't know if that makes any difference
We only pay about 200 a month and only have 27k left, don't know if that makes any difference
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Comments
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Difficult to say without further information on income/outgoings and what monthly payment you feel is comfortable.In terms of a tracker, as your balance is so low, any increases will have less of an impact to you.Maybe a good middle ground is a tracker with no early repayment charge? As then if your rate did spike, you could re-mortgage without penalty.2
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What’s the interest rate on the 2 year fix?charleneann09 said:My current mortgage runs out in May. I'm thinking of getting a tracker mortgage as I'm expecting the interest rates will go down and don't want to be stuck with a high rate. My husband disagrees and wants to go for fixed 2 years.
We only pay about 200 a month and only have 27k left, don't know if that makes any difference
is there an ERC.?MFW 2026 #50: £3,583.49/£25,00007/03/25: Mortgage: £67,000.00
Mortgage:
07/03/26: £34,418.15
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0000
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