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Now you have that major choice to make 

 

Do you get a fixed rate mortgage or a tracker mortgage?
how do you make such a difficult choice you may ask yourselves?..

 

Due to the resent news that the Base rate rates may stay stagnant for a longer than expected Nationwide has reduced its 3 year fixed rates.

In the last 3 years we have seen mortgage variable rates reduce to less than 4%, and with most Tracker deals having expensive fees plus fixed rates being fixed at more than 5% most Mortgageadvisers have been suggesting clients stay with their current variable deals.

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These are the top 5 mortgage brokers in the current uk market, these are only a guidance and was correct at the times of publishing.

Top 5 tracker Mortgages

1. Natwest- two year tracker mortgage
2. rbs- two year tracker mortgage
3. hsbc- lifetime tracker mortgage
4. santander- two year tracker mortgage
5. post office- two year tracker mortgage

 

There are a couple of questions you should always ask yourself before taking out a mortgage.
 

1. Can you afford the monthly repayments on the mortgage?
2. Does the mortgage have payment protection insurance attached?

The other types of mortgages are:
. Fixed rate Mortgage
. Buy to let Mortgage
. Offset Mortgage

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Gemma's world of opinions on mortgages. This day and age with the credit crunch going on its really important to find the right mortgage.
 

The rates on mortgages are changing! which means there will be roughly an increase of £40 each month no matter who your mortgage is with, you need to look for a company who will not be changing their rates any time soon.

 

Take Lloyds Banking, they have followed the lead of Santander and changed their interest only criteria which means that many more buyers will have to look at a repayment mortgage. 
 

As mentioned in february however this is not the end of the world and, especially because of the low rates still available, when a repayment mortgage is compared to the cost of renting in most cases it still works out the more attractive option.

 

I would not know what is the best company in the world to choose from, but i would like to have some guidance onpeople personal oponions.