Abbey SVR vs Fixed

Posted on 22 February 2011 by pras Kane

Currently I am on 4.24% SVR rate with Abbey, Is it a good idea to fix my mortgage rate for 4.99% for 5 years or I should stay on SVR for some more time?

Q2 - Shall go for tracker or fix rate?


Whether to Fix or not depends on whether you can afford increased payments when rates start to rise or if you want the safety of knowing they that they will not increase? It is not possible to advise you which is best for you without conducting a full factfind and finding out what your attitude toward risk is.

Depending on your loan to value it is possible to get both Fixed and Tracker rates that are cheaper than Abbey's SVR of 4.24% and so whatever your preference I recommend that you look at remortgaging.

I would also refer you back to my answer to your question regarding Consent to Let on 21st February.  What you intend to do with the property will have a bearing on what is best for you.

I believe you would benefit from speaking to one of our independent mortgage advisers. Please call on 0344 346 3672 and tell the consultant the date of your question, they will be able to look at your situation and advise you accordingly .


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

You are currently offline. Some pages or content may fail to load.