# Discounted Tracker nearly up. What now?



## tesoruccio (28 Jan 2010)

I am currently on a 1 year discounted tracker mortgage with PTSB. What are my options when the year is up in March 2010?

Will I be given a choice of taking up their standard variable rate (how do I find what this is?) or going fixed.

At the moment the rate is a very favourable 0.85% + ECB.

In the current climate should I be looking at a fixed or should I stay on a variable rate as it is unlikely the ECB will increase in any significant way the base rate during 2010?

Thanks


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## infinity (28 Jan 2010)

You'll have to check your mortgage details, but could it be that the ECB + 0.85% was for the first year and that for subsequent years you are still on a tracker, but at ECB + 1% or ECB + 1.1% ?

Most tracker mortgages started with a discount for the first year.

If so I'd stick with the tracker....


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## Keizer Soze (28 Jan 2010)

Check your mortgage documentation. The could have you lined up for ECB +3.25%. I think that's what anyone coming off a tracker at the moment is being offered.

You should receive your 'Options' letter about four weeks before the end of your discounted period.

You'll probably be offered a fixed rate of around 6%


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## tesoruccio (28 Jan 2010)

Thanks.


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