Tracker Mortgage

rac39

I'm with ptsb with a margin of 1.68 so interest rate is now gone up to 5.18 I owe 180,000 and have 17 years left anyone any advice as to should I fix I'm trying to ride the storm but very hard when you don't know how long for

monkeybutter

https://www.boards.ie/discussion/2058290462/tracker-mortgage

all that can be offered is an uneducated guess really, no one knows how the next 17 years will pan out

I will say that anyone who didn't fix at say 2-2.5% is kicking themselves and there was a lot of warning out there about interest rate rises.

Might not be that cheap to get money for 17 years

that being said, how possible is it to even get a 17 year fixed mortgage at that price, its hard to say, not widely offered if offered at all

so even if you fixed at a number today, it might only be 2 or 5 years max of certainty

if it ever goes that low again, I would suggest fixing as soon as you can

if it is 5% plus, makes sense to pay it off as fast as possible

rac39

Thanks yes I am kicking myself that I didn't fix sooner anyone n everyone kept saying to me not to because I had so many years left n I just thought that it would be a couple of rises which would be ok n even at how much it is now I'm ok but not if it keeps rising I would be just working to pay it . Thanks for your advice

walterking

https://www.boards.ie/discussion/comment/120420816#Comment_120420816

That's the problem when you listen to people who only believe what social median and rag media say.

1.68% is not a great tracker margin. The problem is all the good deals are gone.

PTSB were offering a 10 year 3% rate up to December and that would have been the rate to go for.

Most are reckoning the ECB will not increase further and rates will start dropping next year. So for now, take the pain (its not a huge balance) and then enjoy the drops that should start about this time next year