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Fixed or tracker: advice please
aliwali
Posts: 407 Forumite
Hi
We currently have a fixed rate ending end of May at 4.45%. Now we are facing a £120 increase in monthly payments.
My question is would it be better to go for another fixed rate and if so for how long do you think, or should we try a tracker. We have disposable income each month so it wouldn't matter if the payment was variable. The best deal our IFA can find us is 6.3% fixed for 2 years (although I think this is a bit dubious as I have seen better deals)
The plan is to overpay and get the term down, so any advice on which would be best if we wanted to do this would be great.
I know that this is probably a finger in the wind type of question but any thought gratefully received.
Thanks
ALison
We currently have a fixed rate ending end of May at 4.45%. Now we are facing a £120 increase in monthly payments.
My question is would it be better to go for another fixed rate and if so for how long do you think, or should we try a tracker. We have disposable income each month so it wouldn't matter if the payment was variable. The best deal our IFA can find us is 6.3% fixed for 2 years (although I think this is a bit dubious as I have seen better deals)
The plan is to overpay and get the term down, so any advice on which would be best if we wanted to do this would be great.
I know that this is probably a finger in the wind type of question but any thought gratefully received.
Thanks
ALison
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