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Tracker mortgage - switch to fixed term or not
suelesley71
Posts: 2 Newbie
I have a tracker mortgage which is 0.5% above the base rate. I have had this mortgage for the whole term of my mortgage so far. It's been an excellent deal however now the mortgage rates are going up almost monthly I'm thinking do I ride it out or look to switch to a fixed term rate? I only have 6 years left on my mortgage.
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suelesley71 said:I only have 6 years left on my mortgage.I'd be very tempted to go for a 5 year fix at this stage and over-pay when you can to limit what will be left at the end of the 5 years...0
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That will depend what fixed term deals you can get
what are the rates for 2,3 and 5 year? Can you make overpayments?MFW 2026 #50: £3,583.49/£25,00007/03/25: Mortgage: £67,000.00
Mortgage:
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 -
Personally, I will be tempted to pay it off if low amount and have savings not using.
What is your LTV, A lot of lenders fix are now quite high.
I am going off a fix in 02/24 and looking at virgin 0.23 above base rate.
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