Hi
Our fixed rate of 4.19% has finished and we are being moved onto the Lifetime Tracker SVR of 1.99% + 0.5% BBR = 2.49%. This is part interest, part repayment.
Payments will be £810 a month, mortgage outstanding is £147,000 property value about £240,000.
We rang up today and was told about Fixed Rates
2 Years Fixed 2.49% = £810 a month (reverting to Tracker at 3.49%)
5 Years Fixed 2.99% = £846 a month
If we go with the SVR will the payments stay at £810 or do they decrease as we pay off more of the mortgage.
Does anyone have any advice on which deal is best please as we are confused.
Thanks in advance for any replies.
TMD
Our fixed rate of 4.19% has finished and we are being moved onto the Lifetime Tracker SVR of 1.99% + 0.5% BBR = 2.49%. This is part interest, part repayment.
Payments will be £810 a month, mortgage outstanding is £147,000 property value about £240,000.
We rang up today and was told about Fixed Rates
2 Years Fixed 2.49% = £810 a month (reverting to Tracker at 3.49%)
5 Years Fixed 2.99% = £846 a month
If we go with the SVR will the payments stay at £810 or do they decrease as we pay off more of the mortgage.
Does anyone have any advice on which deal is best please as we are confused.
Thanks in advance for any replies.
TMD