Donate SIGN UP

Right To Buy Mortgage

Avatar Image
jackie boyce | 21:37 Mon 13th Feb 2017 | Personal Finance
1 Answers
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.
Gravatar

Answers

Only 1 answerrss feed

Best Answer

No best answer has yet been selected by jackie boyce. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
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??

Only 1 answerrss feed

Do you know the answer?

Right To Buy Mortgage

Answer Question >>