Mortgage advice

tinner777

Hi. Would like a quick bit of advice. Just come to the end of a five year fixed mortgage with Tsb. Now being offered 2 yr fixed at 7.25, 5 yr at 8.75 or variable at 5.19. Have been advised if we leave the fixed deal that we won't be able to access it later even at different rates. Any advice gladly received. Thanks

chris85

tinner777 wrote: »

Hi. Would like a quick bit of advice. Just come to the end of a five year fixed mortgage with Tsb. Now being offered 2 yr fixed at 7.25, 5 yr at 8.75 or variable at 5.19. Have been advised if we leave the fixed deal that we won't be able to access it later even at different rates. Any advice gladly received. Thanks

Wow them fixed rates are high. I can get a personal loan lower than them fixed rates.

Firstly you may already be aware of this but did you have a tracker before you went on your fixed term or was a tracker your agreed rate originally. If so its possible you should have been offered a tracker. Just something to check and worthwhile for everyone to do so.

I would personally go for the variable out of them options. So much pressure is being placed on the banks to pass on ECB rate cuts onto their variable products and thus the banks will find it hard to raise the rates also. For some banks the variable is "effectively" becoming very similar to a tracker rate due to public/governmental pressure.

tinner777

Hi no we didn't originally have a tracker only fixed. Thanks for your reply

fluffybunny124

Hi there.

I am in the same boat. Just come off fixed rate Mortgage with Ptsb, and been offered the same rates.

What did you decided to do after ?

tinner777

hi, did the variable mate

fluffybunny124

Think Ill be doing the same! :cool: