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, Oct 2, 10:09:24