Being a 'Rate Tart'

getmore4less

Life time lowest cost trackers can be the better option.

If you need the ability to overpay you probably don't need to fix so it is just a number crunch risk analysis.

osaddict

Interesting, he offered a 2 year tracker, it would have been 60 quid less than the above fix, however, if rates were to rise by 1% then it would be £120 more so £60 more than the fix.

I guess it depends on the thoughts on interest rates and whether you gamble. I think everyone thinks they're going to rise but by how much and when is the key.

If they were to rise by half a percent I'd be level pegging with the 2 year fix, more than that and I'd be worse off according to my maths.

So in essence I'm thinking a tracker would save me £60 for a few months, and unless the rate rise was just 0.25% then it would be the same as the fix, with the risk that if it's over 0.5% then I'd be paying more than the fix.