The political is particularly personal at the moment. We need to decide what we think the election result will be, what decisions the next government will make, and what the impact will be on mortgage rates. Not want we want to happen, but what we think will happen.
Our mortgage had been on a fixed term, which expired last year. Since then we have kept our mortgage on the tracker rate. But what will be the impact of the next government? Should we stay with the tracker, or opt for a 2-year or 5-year fixed rate? Should we decide now or wait until after the election?
We are pretty sure we know the answer. But I would be really interested to know what you think. And also to know how many other familes are making the same caluculation. And how many voters are making a direct connection between the decisions made by an incoming government following the election, and the impact on their personal finances? Do enough voters think the choice is real, and the outcome really matters?
FYI, Natwest rates today:
- Tracker: 2.89%
- 2-year fixed term: 3.79%
- 5-year fixed term: 5.49%