RobsyUK

iTrader: (2)

We are currently on variable but with the economy on the increase (apparently) is it time for me to start looking at fixed?

jonc

Have you seen anything decent? I'm on a base rate tracker and don't plan to change. I don't see the rates rising significantly if at all until end of this year or Q1 next year.

stilover

If you have savings, get an Offset Mortgage. Can get them fixed too.

PaulC72

half the problem is prior to the rates rising the banks will change what they are offering to make sure they are covered so the deals now wont be as good as when it all starts rising.

john banks

Fixes for good rates were too short to be useful when I refinanced recently.

Brun

When the base rate does start rising, how fast will it rise? My mortgage tracks the base rate + 0.5%. When I was fixed I was @ 4.83%. What are the chances of the base rate hitting this sort of level?

mart360

Who knows.... but it can and has ... look at mortgages over a 50 year period, there is a cycle of lows and high's.

doing a quick scan of the current market i can see lows at 2.18% and highs at 4.18%

so 1% on the base rate will soon make the 4.18% interesting for some

14 years ago we started on 5.66% fixed for 10

now were on 2.55% fixed for 2


Mart

Brun

Oops - didn't read that right

Brun

Just looked at the base rate history - didn't realise it changed so quickly
5% to 0.5% between Apr 08 and Feb 09!

mart360

What did it look like the other way, just as quick?


mart

Brun

Not as rapid - Click

Fat Boy

Try 17% base rates then like us oldies remember ...

Graz

Looking at the moment and tend to agree with this. I'd guess the banks don't want to offer long term fixes (i.e. 4-5 years or more) as they know full well the base rate is going to shift soon.

I'm moving towards a tracker, HSBC have some good deals on lifetime trackers at the moment 1.99% - 2.19% dependent of fees, if you have a current account with them etc. The good thing with this type of tracker is no tie in so stick with it while the rates are okay and change to a fixed if you start to get concerned about the repayments being too much. Admittedly you do have to factor the fees in which is why I'd try to find something with the lowest fees.