Moving house - should i keep my tracker rate?

rory_K · 2023-05-24 14:11:34

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…

24-05-2023 02:11PM

#1

rory_K

Registered Users, Registered Users 2 Posts: 10 ✭

Join Date: October 2007

Posts: 8

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.

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#2 24-05-2023 02:17PM

brokenbad

Registered Users, Registered Users 2 Posts: 2,388 ✭✭✭

Join Date: January 2023

Posts: 2353

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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