Fixed or variable mortgage? Which would you choose?

[Sherbert37]

Am about to take over the mortgage of our house. If I get the option to re-mortgage, should I go for a fixed rate for peace of mind or variable? Which would you choose if you had to do this tomorrow?

Thanks

Variable, rates are low atm. You can change later. Unless you get a better fixed rate deal of course. Tracker best option but not many around

well there aren't many fixed deals around at the moment and those that are tend to be trackers. Wait and see what you get offered at what rates.

We're going onto variable for the first time ever as of 1st Feb but will probably switch to fixed when the market calms down.

Thanks. All quite scary having got to 40+ without ever having a mortgage on my own. Just glad I can afford it (hopefully).

Well that was easy. There are no variable mortgages! Took 2 hours but think it is sorted. Only another 15 years to pay off when we had nearly finished - ho hum.

what did you go with in the end?

Fixed rate for 2 years upping the original mortgage to 15 years and adding on the amount I need to pay DH. No idea how I am going to afford anything expensive such as repairs, but at least we'll have a roof over our heads. DH is lookng at a swish flat with a lovely kitchen and river views GRRR.

Thanks.

what sort of fixed rate did you get? The ones I was looking at yesterday were 6.0 %

4.98% with Nationwide but may be for existing customers only. Was not a lot of choice.