Brendan,
We have a tracker with BOI so not much choice but to stick with them under the tracker switcher model. Around half the new mortgage will be current tracker plus 1% for 5 years, and we need to decide the other half. As their variable rates are terrible we have to go with fixed rate.
We have to stay with them for 5 years to keep tracker so I was thinking of fixing for the 5 years. Given your stance on fixing do you think we would be better doing 1 or 2 years fixed and taking our chances on where variable rates are by then?
Regards
Luke
We have a tracker with BOI so not much choice but to stick with them under the tracker switcher model. Around half the new mortgage will be current tracker plus 1% for 5 years, and we need to decide the other half. As their variable rates are terrible we have to go with fixed rate.
We have to stay with them for 5 years to keep tracker so I was thinking of fixing for the 5 years. Given your stance on fixing do you think we would be better doing 1 or 2 years fixed and taking our chances on where variable rates are by then?
Regards
Luke