Variable Mortgage??

[chiara79]

I have split from my husband and in the process of buying him out. I can get the mortgage I want but they can only offer me a variable mortgage! I have only ever had a fixed rate so not sure how good a variable rate is?? Is this a good time to be having a variable rate? I'm going to struggle to pay bills as it is but it's something I'm going to have to do for a quieter life!! I also have 2 young boys! Help!!
Many thanks

[bednobs]

it depends what the rate is they are offering you.

[chiara79]

5.69% is this any good??

[gilf]

Who really knows.. personally I would say it's not great.

Interest rates are the lowest they have ever been, it's almost impossible for them to go any lower, therefore in the medium to long term the only way is up.

[sandmaster]

It looks high - shop around. But you may find it is the only offer you get. If you can get a fixed rate at a lower rate go for it if you can afford it.

[R1Geezer]

That's very High, you should be able to get and SVR around 3.75% Even the One account is offerring 4%