Fixed rate mortgage or tracker rate mortgage?
for first time buyers- what is better- fixed or tracker? (we are ready to put down 5% deposit)
Answers:
tracker
Tracker - depending on who you listen to interest rates may go up 0.5% or down 0.5% within the next 6 months to a year.
I would say tracker overall but it depends on your personal circumstances, fixed are not competitive at the moment but the point roughly them is that you know what you are dealing with. Therefore if you have soaring outgoings and can't risk interest rates going up 2 or 3 % for instance, then you may want a fixed for re-assurance. However, if you have average or low outgoings afterwards I would certainly think it should be a tracker.
Tracker rate mortgage and renegotiate if necessary contained by a few years time.
Nationwide is having a very apposite offer for first time buyers:
3 year tracker: 5.74%
http://www.financecomparator.co.uk/mortg…
Related Questions:
Mortgage Rates Question?
I am in the middle of refinancing my home, but the rates have just this minute gone up. Are there any signs the rates will drop back down to the rates they be a couple of weeks ago? I don't think rates will go down. I infer they will be...
Answers:
tracker
Tracker - depending on who you listen to interest rates may go up 0.5% or down 0.5% within the next 6 months to a year.
I would say tracker overall but it depends on your personal circumstances, fixed are not competitive at the moment but the point roughly them is that you know what you are dealing with. Therefore if you have soaring outgoings and can't risk interest rates going up 2 or 3 % for instance, then you may want a fixed for re-assurance. However, if you have average or low outgoings afterwards I would certainly think it should be a tracker.
Tracker rate mortgage and renegotiate if necessary contained by a few years time.
Nationwide is having a very apposite offer for first time buyers:
3 year tracker: 5.74%
http://www.financecomparator.co.uk/mortg…
Related Questions:
Mortgage Rates Question?
I am in the middle of refinancing my home, but the rates have just this minute gone up. Are there any signs the rates will drop back down to the rates they be a couple of weeks ago? I don't think rates will go down. I infer they will be...