#3801090, By bainbrge Worth getting a fixed mortgage?

  • bainbrge 25 Sep 2008 20:49:11 1,687 posts
    Seen 3 months ago
    Registered 11 years ago
    DaisyD wrote:
    CrispyXUK wrote:
    Thats what I thought, the missus got a mortgage advisor round the other night and he recommended this, but personally I don't trust salesman, and we still have 18 months left on our current variable mortgage.

    Is he independent? If not, don't listen to him as he's after the commission.

    They almost all get paid by commission, even the ones called Independent Financial Advisers. Not necessarily a bad thing.

    To everyone saying wait for rates to come down before fixing, I'd agree that base rates are almost certainly coming down, but most mortgages effectively track some form of LIBOR and that isn't going anywhere but up.

    Personally though, in the original poster's position I'd go for a variable rate and gamble that even LIBOR will have relaxed before I lose my job and can't pay the mortgage.
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