Rate Guard

bhindi

I saw mention on a thread a product called Rate Guard, which is an insurance to protect you in case rates go up. I have never heard of these before, not sure that Its something that I want, but I am curious. i have hunted around but only found one company called Market Guard. Does anyone else no off other companies?

Joe_Bloggs

I have heard of Right Guard that appears to deal with the suppression of body odour. Thorntons will make you a chocolate fire guard on request.
J_B.

bhindi

Thank you so very much for your very useful answer.

Regards.

betmunch

I know of the product, but not of any other companies that sell it.

I dont sell it myself though.

Joe_Bloggs

If you are going to risk a repayment tracker mortgage then it makes sense to build up cash savings to compensate for potential sudden rate increases. It may be possible to get a higher rate on your savings than the most competitive tracker mortgage.

You need to be well clear of credit card debts/overdrafts etc to even consider saving money at a few percent interest versus the 20% interest on some cards/loan etc.

A sudden change in circumstances can be mitigated by savings or / in addition they can be insured against. Hopefully the insurer will agree to pay out, without a court case. You may however need the savings for legal advice.

J_B.

bhindi

So are you saying that the likes of rateguard would put up a fight if the rates went up and you made a claim?