With economic data suggesting that rates are going to come down sharply next year, those who don’t need to fix should opt for a tracker, according to Charcol.

Mortgage Introducer – 14 August, 2008

“To say the mortgage market has been an enigma of late would be an understatement of epic proportions. With news, most of it negative, emanating on a daily basis, borrowers could be forgiven for not knowing whether to fix, track, cap or offset,” said Drew Wotherspoon of Charcol.co.uk.

“However, with news from the Bank of England on inflation revealing a marked increase, and indeed an expectation of an equally marked decrease to come, it now seems highly probable that bank rate will fall sharply in 2009. As such, any borrower who does not require the absolute security of a fixed rate mortgage would simply be crackers not to take a tracker at the moment. Full Article