Scooby96

....in the current climate?

OllyK

Sounds like variable rate to me?? Keeps .99% above the current interest rate?

Fixed is good if you think the rates are likely to increase significantly over the next few years, if not then you pay over the odds. Things are looking a bit like we may be in for a couple more interest rate rises, but I can't see it rampaging away in the near future

RussBoy

We re-mortgaged at a tracker rate of 0.1% above base in January with Nationwide (think it's been withdrawn now). My wife works for a mortgage company, albeit for 'buy to lets' and the general feeling there is that rates may rise by about a point this year (0.25 already) so if the tracker is for say 2 years then you'll still be getting a fairly decent rate with piece of mind...

Goochie

I did, about 6 months ago. I id the sums to see if I could afford a 5% rise over the 2 years and I could, so I did it.

fast bloke

sensible decision Goochie - If you are on your limit for monthly payments, pay the extra few quid for a fixed rate for 2-5 years - look at the extra amount as interest rate insurance. If you can afford to pay twice as much, then go for the cheapest discounted deal and switch your mortgage every two years to the best deal. There are still plenty of deals at around 4%