Do you think the UK base rate is about to drop? Would a tracker or a fixed rate mortgage be advisable over the next 2 years?
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Candlerise
ANSWERS: 1
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The base rate will drop within the next five weeks by around a quarter of a percentage point. It will drop again at least twice over the coming twelve months. The recession caused by the collapse of the US economy will continue for around four to six years, so based on that, a mortgage that is variable for the first six years or so would be ideal. After that though, interest rates will rise steeply again and inflation is going to rise far higher than expected from now for the next three years, so take that into account too.
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