L
irishlinks - ECB tracker never heard of it can you explain pleaseYou will be better off in most cases by going on an ECB tracker rate instead of the "standard variable" rate. All lenders tracker rates are lower than their "standard variable" rate. Regarding the fixed rate - it will give you peace of mind and fixed repayments but it may not save you money. The fixed rate did save you money over the last 3 years - but it may not be the same story over the next 3 years. No one knows for sure - but it looks like rates may even start to come down again early next year.
I certainly think it would - what if you want to accelerate the repayment of the mortgage, or move house/lender, or are so financially comfortable that you can afford fluctuating variable/tracker repayments etc.?I would assume it would be madness to fix for 10 years.
If you take the discounted tracker rate, you will be obliged to accept the associated "go to" rate. If this was not the case then everyone would opt for the 1 year discount.
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