HSBC Remortgage Rate - Might as well go on tracker?

IAMIAM

Renewal is due June. Mortgage is currently 165k 4.28 2 Year Fix. 35 Years.
I overpay regularly.

2 Year Tracker available is currently 4.99%
2/3 Year fix is 4.4%ish.
Both £999 Fee. 

If I renew the tracker now, and set a switch date of June.
It is 0.24% above BOE currently. So I anticipate will be potentially 4.25+0.24 by June ie same rate as the fix if I secured the fix now....is this a wise thing to do? I just do not want to secure 4.2 at 5 year fix, maybe when rates are around 3.5 again. 

IAMIAM

Any thoughts?

Emmia

How much flexibility in your budget do you have to pay a higher monthly payment if the tracker rises?

It's a gamble, whatever you do. My husband resisted fixing earlier this year when rates were 1% lower than when we actually took the fresh fix at the end of the previous fix.

His argument was that rates would fall if we left it, only they didn't and actually went up.

Hoenir

IAMIAM said:

maybe when rates are around 3.5 again. 

That's hopefull thinking at the current time.