Tracker always

You have got to way up that you will only be able to fix for 5 years max generally - will the interest rate go past what you will be paying on a tracker? If it does it will have to do it quickly to offset the savings you have made by not fixing at a much higher rate - which basically it is not going to do in the short term. We fixed initially when we started a mortgage (as you do) soon realised we were paying far more for the 'security'.

My advice would be go tracker but overpay at the rate the fix will be - this will then buffer any rise as well as reducing the amount you owe. We managed to pay off 2 mortgages this way in 11 years.

Posted By: jonnym6 on October 2nd 2018 at 10:09:24

Message Thread

Mortgage chat (General Chat) - MIKEWALKER, Oct 2, 06:55:30
- The market expects interest rates to rise gradually, as hinted by Mark Carney (General Chat) - Old Man, Oct 2, 08:26:55
  - thank you very much for the information Old Man (n/m) (General Chat) - MIKEWALKER, Oct 2, 11:07:02
  - Para 5 is on the money (General Chat) - CWC, Oct 2, 09:03:42
    - Brexit means Brexit tbf (n/m) (General Chat) - SCC 28, Oct 2, 09:08:34
      - Brexit means Bullshit (General Chat) - Dunney, Oct 2, 09:35:48
        
        Interesting Brexit thread here (General Chat) - SCC 28, Oct 2, 09:42:26
        
        Yes I'd seen that (General Chat) - Dunney, Oct 2, 09:51:27
      - Quite (General Chat) - CWC, Oct 2, 09:10:39
        
        lilac - that's what you get when you mix red, white and blue entut? (General Chat) - Ralf Scrampton, Oct 2, 10:14:36
        
        shit coloured brown (General Chat) - CWC, Oct 2, 11:46:14
- As an 'accountant' I'd go fixed for 2 years (General Chat) - Worthing Yellow, Oct 2, 07:18:02
  - Tracker always (General Chat) - jonnym6, Oct 2, 10:09:24
  - Tsb 10 year fix and flex (General Chat) - CWC, Oct 2, 07:27:23
    - Not bad depending on rate... I'd have to do a discounted cash flow (n/m) (General Chat) - Worthing Yellow, Oct 2, 08:27:03
  - Any idea when it will improve (General Chat) - SCC 28, Oct 2, 07:26:07
  - but if the economy doesn't improve (General Chat) - ghostof barry butler, Oct 2, 07:25:08
    - Easier to budget but you'll have to pay more for the privilege (General Chat) - Worthing Yellow, Oct 2, 08:23:29
- Hedge your bets and open a hedge fund (n/m) (General Chat) - essexcanaryOTBC, Oct 2, 07:08:29
- Fixed. Inflation will rise and interest rates will follow. (n/m) (General Chat) - Augustus Pablo, Oct 2, 07:01:51
  - They probably will but not rapidly... (General Chat) - jonnym6, Oct 2, 11:11:29

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