opinions sought re: mortgage rates

Bosshog

Frequent Poster
Messages
218
Hi all,

am currently on a tracker with ptsb at 4.1% though its soon to increase.
they are offering 5 year fixed for 4.99%.
or 3 year 4.85%
or 2 year 4.65%

considering the current trend in interest rate hikes, and the prediction in yesterdays Indo that it will hit 4% some time next year (pushing my tracker rate to 5.1%) i would like to fix. Especially because there is not a huge difference between my present tracker rate and the 5 year fixed they are offering.

However I dont want to be tied into a 5 year fixed term just in case the ecb decides to drop rates during the latter part of that 5 year period. So i am more inclined twards the 2 or 3 year fixed. Is this wise??

Im wondering are there many of you who were on variable who are now switching to fixed and how long for?
 

NorfBank

Frequent Poster
Messages
2,103
Try the IIB 3 year capped tracker.
Start off at ECB + 1.25%. It will never be more than 4.99% in the 3 years with all the advantages of a tracker - overpayment/lump sum repayment/redemption w/o penalty and IF the ECB drop rates, this will too,
Multiple other threads on fixed v variable rates.
 

Bosshog

Frequent Poster
Messages
218
that sounds interesting. will look into that. thank you.

I know there are loads of fixed v variable threads... sorry my question was very long winded

basically...
who is switching to fixed and how long for?
 

NorfBank

Frequent Poster
Messages
2,103
Mark..if you're going to advertise a mortgage company, at least spell mortgage correctly. Unless you are offering a better mort gae?
 
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