Fixed or Tracker?

Radiantsoul

Penny_Farthing wrote: »

Also, having been badly stung by a 5 year fix I'd never go for a 5 yr deal agin unless I really had to because there was no slack at all in my disposable income. At the time we took it out, it seemed an absolute bargain and no one was predicting the fall in interest rates 3 to 4 years later. We'd have been far better off on a SVR.

Surely that is an advert for fixed rates?
If rates had gone up and you had no slack in your disposal income then there would have really been a problem. The issue is that you probably borrowed too much and a fixed mortgage seems to mitigate the negative risk of rates rising. Variable rates only really work if you can afford rates to rise.