Soldato
So a friend has asked for my opinion on whether she should go for a Fixed, Variable or Tracker mortgage. Friends tend to come to me for this sort of stuff because I'm fair at maths and logic. Like most people who aren't, they confuse these things with being informed. And if I knew how to reliably and precisely forecast interest rates, I'd be off for my prize in economics right now.
So, a strawpoll of GD's resident experts along with any as to what they think is best right now. I would prefer not to give advise (knowing my limitations) but this particular friend could really use it so I'm suspending my say nothing policy. Currently, I've given my opinion that if they can't afford the payments to go up, get a Fixed. I told them that Tracker is for people who can afford the risk of it going up. I personally can't see a house boom in the next five years so expect interest rates to stay low to prop up the market. So I would opt for Tracker myself ideally, if I could make the payments fairly comfortably.
Thoughts?
So, a strawpoll of GD's resident experts along with any as to what they think is best right now. I would prefer not to give advise (knowing my limitations) but this particular friend could really use it so I'm suspending my say nothing policy. Currently, I've given my opinion that if they can't afford the payments to go up, get a Fixed. I told them that Tracker is for people who can afford the risk of it going up. I personally can't see a house boom in the next five years so expect interest rates to stay low to prop up the market. So I would opt for Tracker myself ideally, if I could make the payments fairly comfortably.
Thoughts?