With interest rates expected to rise in May, is now the right time to switch to a fixed rate mortgage?
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I'm not sure if lenders will have more competitive products once interest rates have fully recovered? Or if the early bird gets the worm?
msg4branston
1 year ago
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
rates have been "expected" to rise for the best part of 12 months or more!
the reason for taking a fixed rate is because you want a set budget that wont fluctuate in terms of your monthly cost. if you are not concerned in the slightest about the rate going up, thats a reason to look at other deals.
fixed rates were never marketed to be cheap but to offer peace of mind.
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the reason for taking a fixed rate is because you want a set budget that wont fluctuate in terms of your monthly cost. if you are not concerned in the slightest about the rate going up, thats a reason to look at other deals.
fixed rates were never marketed to be cheap but to offer peace of mind.