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To Mortgage in such times?

wiredup · 2008-09-30 13:18:36

Question for you economic experts. I'm interested in a small mortgage. I was thinking a tracker was the best bet. Being tied to the European bank you would assume some stability but with the way things are perhaps fixed is a safer bet? I'm looking at a 20 year term. If things get really bad and interest rates rocket a…

30-09-2008 1:18pm

#1

wiredup

Closed Accounts Posts: 94 ✭✭

Join Date: March 2005

Posts: 67

Question for you economic experts.
I'm interested in a small mortgage. I was thinking a tracker was the best bet. Being tied to the European bank you would assume some stability but with the way things are perhaps fixed is a safer bet?

I'm looking at a 20 year term. If things get really bad and interest rates rocket a fixed rate would be a real bonus. But perhaps in 10 years time things might be on the up. I just don't know.
I know we are in virgin waters with what is going on globally but what would you do?

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Comments

#2 30-09-2008 2:37pm

Brendan552004

Registered Users, Registered Users 2 Posts: 168 ✭✭

Join Date: May 2005

Posts: 123

Very few lenders are now offering tracker mortgages, interest rates are on the way down, not up. I would stick to variable, you can always go fixed at a later stage.

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