Interest Rate Options question

[lfcfan]

Hi. I have come to the end of a 2 year fixed rate on my mortgage and I have 2 variable options to choose from. A tracker rate of 3.5% (2.25% above ECB although I beleive this would now be 3.25%) and an LTV Variable rate of 3.3% (which I would expect to now be 3.05% as PTSB pass on the full reduction to all variable rates). Which do you think I should go for?

 

[LDFerguson]

A personal opinion, but unless the 0.2% difference is going to make a big difference to your lifestyle, I'd go for the tracker. The LTV variable can be put up by PTSB at any time. For the extra 0.2% the tracker offers you certainty that it will never exceed 2.25% above ECB for the life of your mortgage.

 

[kellef]

I was in your exact position and am currently looking at fixing with AIB for 2.8%. Did you shop around? The ECB + 2.25 I felt was worth leaving the tracker rate...