rate tart BrE informal

We've been rate tarts with our savings and set up a one year fixed bond.

The term "rate tart" is sometimes incorrectly applied to this practice.

The 0 per cent balance transfer was invented at the turn of the millennium, and the rate tart was born.

Building societies 'are best for non rate tarts'

Quote of the Month "Mutuals may not always be the best for so-called 'rate tarts', who like to flirt with financial institutions then move on.

Some experts have warned, however, it could punish so-called "rate tarts", savvy consumers who move their debts around from one zero per cent card to another.

Be a rate tart Remortgaging to a cheaper interest rate could save you thousands, says Greg Dobie.

A rate tart frequently moves a debt (or cash balance) around in order to get the best interest rate, rather than taking advantage of the difference between two interest rates.

However the ability of people to be "rate tarts", and move their debts from one card to another free of charge to take advantage of 0% rates, has all but been extinguished.

Be A Rate Tart The Rate Escape Re-flex Actions Back From start to finsh Re-mortgage tips Which mortgage?

While lenders still want new business and some "rate tarts" are still looking to switch their balance on a frequent basis, the goalposts have undoubtedly moved and a greater proportion of consumers will see their application turned down.

With Bank of England interest rates stuck at 0.5 per cent and UK savers subsidising borrowers to the tune of an estimated £100bn even the most active of consumers, those willing to become a "rate tart" and switch between the highest-paying providers, are barely keeping up with inflation.

So-called "rate tarts", who are wise to the tactic, simply switch accounts every year to ensure that they still get decent returns.

Rate tarts' - borrowers who switch between lenders to secure better deals - are increasingly being hit by costly mortgage arrangement fees.