Hi All,

I am coming to the end of my 2 year deal with A&L and would like some advice.

I have 2 loans - main mortage (balance £99k) and a house loan account (£10k)

As it stands today, I had reserved a fixed rate deal for 2 years at 5.94% plus £199 arrangement fee which consolidated both loans.

However if I do nothing, it reverts to the tracker of B of E Base rate +.99% = 5.99 at current rates. Would readers say that Base rates will come down? Basically I do not think I am any worse off letting the current deal run out? The Tracker is 0.99% for life. I have no tie ins and I am a free agent to buy another product/deal in the future.

The only problem is the small loan account which has a standard rate today of 7.19%

Do readers think there will be new products/competition injected back into the mortgage market; and if so when do you think that will happen.

What do people think I should do and when should I do it. I have 4 days from today to sign up to the 5.94% fixed rate which if I was to take it out today is 6.2%. My gut feeling is to do nothing as this Tracker rate is very very low.

Thanks to all,

Brian

In your shoes I would be taking the tracker. Interest rate decision due tomorrow. I suspect they will hold though one member of the MPC is pushing for another cut. I was lucky, I got on a 0.59 tracker in early March before all the good deals were pulled. Also I presume there is no fee on the tracker?

My advice, get on the tracker, I think in a few months or early next year, availability of good deals will start to improve.