Right To Buy Mortgage

[jackie boyce]

Hi,

We are able to buy our first home and take advantage of our 26yr discount, we are looking for any help or advice on which type of mortgage deal to go for.

The reason I am looking for advice is we intend to get a 15yr mortgage, take an initial deal but not certain of fixed or tracker and we would like to sell the property in 5yrs.

Any help would be greatly appreciated.

[Gizmonster]

Where's a big crystal ball when you need one??
If you think interest rates are likely to rise in the next few years, go for a fixed rate - lots of good deals about at the mo, enabling quite decent lock-ins at reasonable rates.
If, however, you expect rates to stay low, then a tracker will be the best option.
Me personally ?? I'd opt for the fixed rate. You should be able to lock in at a decent rate, for a decent length of time, plus it offers security, insofar as you'll know exactly what you're paying, so you can budget accordingly.
Imagine going for a tracker and then rates rise rather sharpish??
Which one sounds the best option to you??