Would you go for a FIXED RATE mortgage or a TRACKER RATE mortgage now????????????

[drosophila]

and why?

Also how many years would you tie yourself in. E.G> a 2yr fix at 6.58% or a 5 yr at 5.83%

tracker

becasue dh is chartered accountant and he organised it

Well, B o E rate is going down/stable and lowish and mortgage rates are going up so...tracker atm. But depends whetehr you want certainty or not, of course.

Hello btw

drosophilia if you want any advice on this my dp a broker and can talk it hrough with you so you can find the most suitable product for you as each circumstance is different he has an ad on here and isn't charging a fee to mnetters

We've just arranged a lifetime tracker which has no fees and no tie-in so we're free to leave at any time. If it looks as though the BoE is likely to put rates up and we can find a decent fixed rate then we can switch at any time.

I like trackers and have been on them for years. A couple of months ago I remortgaged to Nationwide's lifetime tracker which had no fees and which stays the same rate above Bank of England rate for the life of the mortgage. That rate has now vanished of course, so I can't say whether it's still worth doing.
Another feature of this one is that if you think rates are going the wrong way you can change to a fixed rate with them.

Should have said the Nationwide tie-in is 5 years. But I think you can change to fixed rate within that time (goes off to check.)

I'm in the process of arranging a fixed rate because I need to know how much I'm going to be paying. I suppose I could save a bit with a tracker but I just want a figure that seems reasonable and will not change.

(maybe a stupid decision mind you - I am no expert...)

fixed rate as i like to know what ill be paying for the next 5 years.

Lilyloo, will do. Thanks

We've just arranged a five year fix. I like knowing that we can afford what we're paying - come what may!

We've just arranged a 2 year fix, as I do like to KNOW the monthly rate, but only want to be tied down for a short time, especially at the moment.

We've just arranged a fixed 5 year deal with first direct (4.99%). Suits us fine as we really need to have control over our monthly outgoings

tracker without a doubt, preferably a capped tracker. I think this is what I have and it is offset too, but I am not 100% sure!!

We have a fixed rate, fixed until 2010, at 4.6%, DH thought I was mad to organise it at the time, now he thinks I am genius.