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Moving house - should i keep my tracker rate?

  • 24-05-2023 2:11pm
    #1
    rory_K
    Registered Users, Registered Users 2 Posts: 10 ✭


    So selling my apartment and moving to a house.

    I've had a tracker for 12+ years - its over 5% now for the first time.

    BOI said i can keep the tracker if I want but obviously it can go up more which wouldn't be ideal, hence the dilemma.

    Is it just a gamble or would staying be a safe bet in the long run? Any advice would be appreciated - TIA.



Comments

  • #2
    brokenbad
    Registered Users, Registered Users 2 Posts: 1,700 ✭✭✭brokenbad


    After much consideration, i gave up my tracker recently after 18 years - same as you it went from 2.69% to 5.5% in the space of a year - so i bit the bullet and signed up for a 3.5% fixed rate over 5 years. Cant see interest rates going back below 3% for a long time....Then again i only have 7 years left on my mortgage so i was happy to fix at the new rate,



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