What type of mortgage have you got?

[bobbarley]

I'm currently weighing up fixed vs tracker mortgages for a first time buy.  Given the state of the countries economics I'm leaning towards a tracker as I don't feel interest rates are going to rise for several years.

However I'm just curious to know what mortgage deals others are on? And why you decided on a particular type. Please no arguing or flaming about this over that, or about gold wtf?! I'd like this thread not to be removed 

[Toby]

Also intrested, trouble is I live in a 3 bed with the fiancé, and been saving for a mortgage!

But I can't downsise! So will be another 3 bed!

  scarey at 22 next week 

[T_J_G]

Nigel, we are going through the process of buying our first house and decided with a 5 year fix. Even though we thought the rates wouldn't change much, if they did we could be in trouble. So every month we know exactly what we will pay for the next five years.

[patc]

I fix my rates every 3 years pretty much. 5 years is quite long.

As above I like to know exactly what is going out each month.

[Jimble]

I'm in my ninth year of ownership and when i first started i fixed for 5 years so i knew exactly what was going out each month, i then fixed for a further 3 years although i really wish i hadn't as it ended up costing me a lot with the low variable rate coming in quite early on in the term! i'm now on variable rate and am saving about £130 month on fixed, it's difficult to advise really without knowing the specifics, ie difference in monthly payments compared to you disposable income, having said that as your starting out it's always best to know where you are each month for that feeling of security!

Sorry i've been absolutelyno help but good luck with it mate!

[Rhyso]

Started off with a 3 year fixed deal which then reverted to variable rate which has saved me about £100 per month due to the current rates

Need to start looking around but I can't see interest rates going up any time soon so I'll stick with what I got for the moment.......

I'd fix for 2-3 years as that will give you time to settle in and give you peace of mind that you know exactly how much your mortgage is per month so you can budget accordingly 

[VeeDubGTI16v]

Tracker here including an overpayment, so if the rate creeps up it can be managed by reducing the overpayment.

Low rate of the tracker with the stability of a fixed!

[Organisys]

SVR @ 2.0% above base.

[admc6]

I've not long got myself my first house.

I have a 3 year fixed rate from the woolich. It's an 80% LTV on 93k and I pay £478 a month.

Good to know what exactly is going out every month. Helpful too knowing that when I'm spending chunks doing up the house.

[Diamond Hell]

Fixed for two years, after much debate on here a couple of months ago.