Debate with friend last night, he says he has monitored his fixed against the tracker rate and all but a couple of months would have been better off on the tracker… If that’s the case why does virtually everybody choose a more expensive fixed rate option?

It depends what rate you get and how long you’re fixing for.
Rates are only going to go one way so I suppose that in fixing you’re just gambling on how much the rate will rise by during your fixed period.

Personally we went fixed last time we remortgaged, hopefully by the time the fixed period is up we’ll be mortgage free or thereabouts so we won’t need to worry so much in future 🙂

My last mortgage was tracker, did very well out of it as rates consistently fell. Been mortgage free for 5 years though, so no idea what’s on offer now.

Risk appetite vs Peace of mind. I’ve both but that’s because different amounts of equity in each meant different products were available.

Personally, I like piece of mind, have 8 years on one so fixed it for 5 knowing it can be smashed out in that time.
Another has been out of it’s term for years and is tracking at a ridiculously low rate, that’s the one you don’t overpay!

A decent advisor should see you right….then go straight to his suggested lender it might(!) be cheaper…..

Its one of lifes great ironies

If meeting the mortgage payments is tight then you use a fixed so you don’t get wiped out by a big rise

If the payments are small to you you go tacker ad probably end up paying less

We have both. A term tracker at base rate +0.5%, which we obviously didn’t want to give up when we moved. Additional borrowing went on a 5 yr fixed rate. So we’re in a win/lose or is that a lose/lose situation 😐

Did a fixed rate for ten years just as it hit the bottom and didn’t move for ten years, pfft at least I didn’t have to worry about being able to meet the payments.

Just got another 5 year fixed because with the last ten year low there is probably never gonna be such good fixed rate deals offered again?