We don't have any significant cash savings to fall back on as we've prioritised paying off the mortgage faster. Never made sense to me having savings earning practically no interest when it could be used to pay down the mortgage instead. However, we do have enough credit available at the floating rate to tide us over for a year I'd say. We're also paying well more than the minimum fixed mortgage payments, so could lower those payments by up to 60% without penalty (except of course the long term penalty of paying more interest and having the mortgage longer).