Fixed Rate Offer

T

tinofapples

Registered User
Messages
18
Folks,
Being offered the opportunity to move to a fixed rate of 5.40% (typical APR 6.02%) for 2 years "protecting us from further ECB rate increases" .

Would you advise going down this route ? Have till 30th Sept to advise either way.

We've been on the tracker for the last 2+ years.

Thanks.
 
Have you read the many existing threads on the general "fixed versus tracker/variable" question? Do you really need to fix? Remember that a fixed rate will protect you from future rate increases but prevent you from benefiting from future rate decreases!
 
Got a similar letter from UB, offering fixed rate of 4.95% for 2 years
on a tracker of ECB+0.7%
Guess what Im choosing :D
 
You need to verify what tracker rate you are on, but if it was set 2.5 years ago I am guessing the tracker rate will be better going into the future.
 
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