# Offer after coming off fixed rate



## cully (15 Oct 2008)

Hi,

Just looking for advice:

Current fixed rate of 4.54% finishing 2nd Dec. Received new options from PTSb today as follows:

Tracker 5.93%  (ECB +1.68%) - will be 5.43% come first payment
Variable 5.94% - will be 5.44% come first payment
Fixed 2 yr - 6.35%
Fixed 5 yr - 5.99%
Fixed 7 yr - 6.10%
Fixed 10 yr - 6.10%

Purchased house in 2006 and reckon i am in negative equity at moment . Borrowed 92% at the time and reckon house price is worth less than mortgage now - little or no option of changing banks!

I know the tracker rate above does not seem attractive but i am wondering is it better to go with a fixed 1.68% above ECB or take my chance and go variable, where there is no guarantee any rate cuts (if they happen) will be passed on.

bank have advised i can revert to standard variable rate at any stage in the future but no guarantee they will offer tracker rate again.

Any advise welcome as to what posters here would do.

Cully


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## NorfBank (15 Oct 2008)

*Re: Offer after coming of fixed rate*

If you can still get a tracker then take it.


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