Secure 5 year fixed mortgage TODAY or wait to hear news of interest rate announcement tomorrow

[Lovelyveg80]

5 year fixed at 4.18%

or

wait for announcement tomorrow

thoughts?

Fix today. I think rates are going up not down.

Added to which these a shed load of regs around brokers financially forecasting

Some trackers do have early repayment charges. But OP is now talking of a 'fixed tracker ' and I've never heard of those

that's not a bad rate. i would takr

Nationwide

we’re offering me a 2 or a 3 year fixed tracker. With £999 fee

As in the rate it tracks at is fixed for x time. Not the actual payable rate.

DH and I have been on a 0.9 above base rate for donkeys years and I can’t find a product to beat it, that’s a lifetime tracker though.

We were on 0.74 above base since 2007 - I fixed last October at 3.15% for 5 years. Would be paying 4.74% otherwise !

Mind you op if you google fixed tracker nothing shows up

I think op is on a tracker rate but gosh is your rate 4% above the BoE Base rate?

He thinks there's a very good chance rates will be lower in 2 years.

For rates to be back in the 1/2% range some shit is going to have the hit the economy. QE was meant to be a temp fix after the crash

& brokers shouldn't influence your choice like that!

Yes but as I said… this was for a remortgage and I am an existing nationwide mortgage account holder! See attaches

As per my Op

i have FIXED!! At 4.19% for 5 years 😂

i think with your repayments (presumably not that big a mortgage) and length, it won’t make much odds if rates drop back sub 3%. Which I imagine is best case

Op that is a tracker mortgage 🤣🤣

or am I going crazy

Op

im not doubting you at all btw I know you said you were thinking of fixing but you know a tracker isn’t a fixed mortgage and that mortgage on the screen is a tracker mortgage

That's a tracker, OP. So each time the base rate goes up your rate will go up. So if they increase base rate to 4.5% tomorrow your rate will be 4.74%

They could increase it again at the meeting after that and your rate would go up to 5.24%

Op

must have posted the wrong picture because her new fixed rate is not the same as the tracker rate in the picture

definitely says tracker...

yes but the mortgage term is fixed for 2 years. So it will track the rate and I would have to pay a ERC if I wanted to bail within 2 years!

omg!! I have fixed for 5 years! 😂

i posted the first photo in response to

Mind you op if you google fixed tracker nothing shows up

the second photo is the deal I fixed today!

You have confused everyone on the thread OP by starting out asking about a fixed rate, then referring to a tracker as if that's what you've just signed up to, and then sharing screenshot of a fixed rate!

"Fixed tracker" is surely a contradiction in terms.

You either fix something or you track something else.

OP, just delete this thread 😂

Sorry misleading

i meant fixed in the sense the deal was fixed for 2 years