Fixed or Base Rate Tracker?

neetugopal

I am looking to remortgate in the next month or so. I am in dilemma whether to go for fixed or tracker rate. Both rates are the almost the same 4.69% offered by HSBC and Halifax. Could anyone please suggest which deal should I go for?

aliwali

If you can get a fixed at 4.69 then you should snap it up in my opinion. Although I guess it depends on the fees. We have just gone for a tracker purely because we couldn't find a fixed rate at the same level with low enough fees. We will just have to take the chance that the base rate doesn't suddenly increase.
How long is the fixed rate for out of interest?
Alison

Markyt

Fixed. Base rates will not be going any lower for the forseeable future, according to Mr King.

topher_2

The cheapest fixed rate I can see on HSBC website is 5.53% "special" fixed for three years with a £999 fee. Where did you get 4.69% from?

maveli

This might help you decide

http://www.ft.com/cms/s/0/f7095674-21a7-11dd-a50a-000077b07658.html

Peelerfart

If,as far as anyone can tell, there is no prospect of rates going down and little appetite to raise them then doesn't it follow that there is no difference between fixed and tracker. An unusual occurence to say the least !

But I agree with Aliwali -

"If you can get a fixed at 4.69 then you should snap it up in my opinion"

fraggle8

neetugopal wrote: »

I am looking to remortgate in the next month or so. I am in dilemma whether to go for fixed or tracker rate. Both rates are the almost the same 4.69% offered by HSBC and Halifax. Could anyone please suggest which deal should I go for?

hi im looking to remortgage at the moment and these rates seem very low can i ask where you found them or is this a mistype and should be 5.69 not 4.69?

Gorgeous_George

Markyt wrote: »

Fixed. Base rates will not be going any lower for the forseeable future, according to Mr King.

Interest rates cannot go lower because of inflation being above the 2% Government target.

:rolleyes: Gordie promises to perform a miracle with the economy.

Next week, Gordie will relax the Government's inflation target to 3.5% and Merv King will be able to ease interest rates once more.

GG

neetugopal

Sorry for the typo, the Halifax rate I quoted was actually 4.69 and HSBC is 4.63. HSBC is life time tracker with £999 as arrangement fees and Halifax is 3 yrs fixed with £599 arrangement fees.

I spoke to my current mortgage provider A&L and I was surprised to find out that my new rate is going to be 5.99 (BOE rate +.99) which is not bad as I don't have to pay arrangement & exit fees for switching supplier. I am pondering the idea of sticking with A&L for a year or so and hope market improves to allow me to get a better deal :-)

fraggle8

still confused as to how you got such a low rate are u using a broker?

Peelerfart

I'm confused ! 4.69% and 4.63% - Is this possible these days ??

I've just remortgaged with HSBC and I'm soooooooo confused