QI have a tracker mortgage, so my mortgage bill has gone up twice since last July as a result of two interest rate hikes by the European Central Bank. The interest rate on my Tracker mortgage was 1.5 percent before the ECB started raising his rates in July. It’s now 2.75pc, almost double. Trucker mortgages have always been considered gold dust, but as we fear the ECB may raise interest rates again in the coming months, our mortgage bills will be even higher. I am considering fixing my mortgage. Is it a good idea to give up trackers and pay off your mortgage?

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