IIB Variable V Fixed Rates

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We'rejust coming to the end of our fixed rate period with IIB Mortgages.

We recieved a letter giving the following rates should we choose to fix again.

1yr - 5.39%
2yr - 5.19%
3 & 5yr - 5.24%

I called the bank there now to check their variable rate and they have told me it is currently 5.20%. My question is do IIB (and other banks) expect the rates to fall soon by the fact that the 2yr fixed rate is currently less than the variable rate (they're normally higher arent they?)

I just wonder which option people would choose - we can afford to weather the fluctuations of the variable rates.
 
I agree. Also there are lots of existing threads on fixed versus variable/tracker so no point in rehashing the same old info here again in my opinion...
 
ClubMan said:
I agree. Also there are lots of existing threads on fixed versus variable/tracker so no point in rehashing the same old info here again in my opinion...
Click to expand...

i know, there are many many threads there alright! I am reading through some of them so appreciate what you are saying. I think for many readers/contributors whose knowledge is limited on mortgage interest rate options, they like to ask questions based on their own personal situation. Without this forum, i personally would have been stuck in many situations over the last year.

I have since called IIB to discuss and they have offered a tracker rate of 4.95%. from reading all the threads, this seems to be the general way to go.
 
An ECB + 0.95% tracker sounds like it is at the competitive end of the market alright. This would be a better bet unless you have good cause to fix (e.g. are hard pressed to meet mortgage repayments or might be if rates continued to ries).
 
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