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Fixed rate vs variable rate ISA, which wins?


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Written on: 20.12.2009 [21:16]
Phoebe
Phoebe
Topic creator
Posts: 3
I have been reading through the posts trying to figure out how to invest my money and I have the overall impression that it is more worthwhile getting a fixed rate isa rather than a variable rate isa. I am trying to save up towards a house as I would like to start looking for a place to buy in the next five years so I could do with as much interest as possible. Any suggestions would be much appreciated. Thanks
Written on: 25.12.2009 [18:10]
Neha
Neha
Posts: 3
Well I would think that you have been reading threads from last year or beforehand as now it is probably more worthwhile getting a variable rate isa rather than a fixed rate. Beforehand the fixed rate would have been great if you had secured one just before the rates crashed, that way you would be secured at 6.2% in 2008 whereas now the rate could be at 1% or even less. But think about it, if you secure the fixed rate of only 3% now and they say it is likely to increase again then you will be stuck with the old rate when everyone else in on a higher rate.
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