Which mortgate should i go for???

    My tracker mortgage comes to an end in april.

    I have been offered a 2 year fix at 2.79 + base rate = 3.79%
    and a tracker at the same rate.

    If i fix for 5 years it is approximately 4.89%.

    What do people on this forum think?
    Can the rate go down any more?
    Is there only 1 way for it now which is up?

    Fix or variable??


    Interest rates are going down. Personally I'd ride the down movement without any terms. When the government starts increasing interest rates there would be more options. Currently very few options but there are a lot of factors to consider. You should consult an advisor. The ones I consulted convinced me that if its going down why lock it.

    Fix it for 2 years rather 5 years, in 2 years time change again. Abbey are going good rated at the moment, I was quoted £700 set up fees and a raye of 3.89% with the option of paying 10% extra without and penalty, didnt care too much what the rate was after 2 years as i will just do the same again and move to someone else on a fixed rate.

    I think the 2 year fixed rate is the best, loans & mortgages are still not anywhere near base rate, stackers (as you know) are great while you have plenty of spare cash.

    Nobody knows for certain, go for the fixed rate, at least you will know what you have to pay.

    Could you afford to pay 15%?

    Rates have been at 15% in the past.

    apparently MSE is the best place for this sort if thing. good luck...trackers rock!
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