Tracker Mortgage

Dris | 10:57 Wed 05th May 2010 | Business & Finance

3 Answers

I have the papers to transfer to a tracker mortgage from my lender.

Im dithering as I dont know if its the best time to change to a tracker or would it be best to go for fixed rate instead for a 2yr term?

Do you think its more of a gamble in this uncertain current financial climate?

Any advice would be appreciated.

B.P shares---to sell or not to sell?

whats the best way to transfer title deeds form a parent to child?

Answers

1 to 3 of 3

Best Answer

No best answer has yet been selected by Dris. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.

Hawkwalk

depends what rate you are getting fixed. Interest rates are most likely going to rise soon but by how much is anyones guess.

Dris

Question Author

Its 3.79% fixed over 2yrs (suppose it would be less the longer term youre fixed in for) and 3.17% tracker but I suspect once this is all done and dusted the rates will hike as well.I'm currently standard rate of 4.23% (loyalty discount from 4.79%).

Ive a feeling tracker is not the best bet at the moment.

Hawkwalk

I would fix it if it was me as then I would know where I was at least for the next two years. The fixed rate is lower than your current rate so you will make a saving. Just depends on the size of your mortgage and how much you would save if you went for the lower tracker and took a gamble that it remained low. If you can afford to gamble then you can, if not play it safe.

(im not a financial expert though so you may want some more advice)

1 to 3 of 3

Do you know the answer?