Case study: Lifetime tracker
“A lifetime tracker appealed to us because it means we don’t have to worry about remortgaging every few years,” explains Sarah.
“We like knowing that our payments won’t suddenly jump up dramatically at the end of a deal. It’s true that if interest rates were to go up, you’d think: ‘Oh drat!’ But then again, when interest rates go down, you think the opposite and it’s great.
“Our deal allows us to remortgage at any time without having to pay penalties, so if interest rates go up, we can just switch.”