Tracker vs Fixed

boinging_2

lisyloo wrote: »

The only danger here is that by the time rate rises are obvious to the man in the street, then fixed rates may have risen.
You are gambling on being quicker than the banks (professionals) which logically has to be a bad plan.

Are you going to be monitoring the MPC minutes and LIBOR rate all the time?
or might you be just getting on be life or away on business?

The option IS there to change but I'm just warning that there is a risk that fixed rates won't be that fantastic at the point that it's obvious that rates might rise (plus there might be fees).
But nevertheless you DO have options.

The best idea is to put the savings you are making by being on a tracker in to an ISA and that way you have the money saved to use should interest rates jump up. Also put the initial money you have saved by not having to pay any up front fee's in there and you'll a tidy sum building.