Should I keep my 'sub-prime' mortgage?!!

[Voyager]

Here's an odd one!

We remortgaged 2 years ago and as my husband was self-employed for only a short time we were unable to get a mortgage through 'normal' institutions.

We have a tracker mortgage with Springboard Mortgages and had intended remortgaging with a 'normal' lender as soon as it was viable. This latest interest rate cut brings our rate down to 4.9% which isn't bad, I don't think.

I'd value advise as to whether anyone in the know could advise whether we should actualy keep our tracker (seeing as they're going to be extinct in the not too distant future) or go ahead trying to re-finance.

Thanks!

 

[JWMB]

Trackers are becoming extinct sooner rater than later. 4.9 before todays rate cut would have been a reasonable rate. But after todays cut it might not be so good. for example my rate after the decrease is 3.25% . I reckon if you can tick all the boxes with lenders.... you could avail of something near 4% or less which would still be a good bit less than what you have and savings over the lifetime of the mortgage could be significant.