Hi,
I am coming off a fixed rate Mortgage in 2 weeks time and I have received a letter from my Mortgage provider with new rates and I must say they Hurt.....
I am looking at a 1.7 % rate increase which is a about a 250 euro per month bigger hole in my pocket !
I have a LTV of around 51%
I have been shopping around to see if I can get a better rate but my question is this ....
I have been offered a "tracker" mortgage (.8% + ECB) i never used a "tracker" mortgage and would like some advice if this is the way to go or fix again for a number of years (an option would be 5.35% over 5 yrs ) .
I realise that this is a very open question and I dont expect anybody to have a crystal ball (oh how that would be great!) but am i imagining things when i say we are at a bit of a cross roads and a possible interest rate cut is on the cards at the next meeting of the Darklords in Europe ?
All advice is welcome no matter how small you think it may be , i look forward to your reply.
L.
I am coming off a fixed rate Mortgage in 2 weeks time and I have received a letter from my Mortgage provider with new rates and I must say they Hurt.....
I am looking at a 1.7 % rate increase which is a about a 250 euro per month bigger hole in my pocket !
I have a LTV of around 51%
I have been shopping around to see if I can get a better rate but my question is this ....
I have been offered a "tracker" mortgage (.8% + ECB) i never used a "tracker" mortgage and would like some advice if this is the way to go or fix again for a number of years (an option would be 5.35% over 5 yrs ) .
I realise that this is a very open question and I dont expect anybody to have a crystal ball (oh how that would be great!) but am i imagining things when i say we are at a bit of a cross roads and a possible interest rate cut is on the cards at the next meeting of the Darklords in Europe ?
All advice is welcome no matter how small you think it may be , i look forward to your reply.
L.