- FIX THE RATE FOR A LONGER PERIOD
If you haven’t fixed your mortgage rate, MOVE IT NOW…. Banks and building societies start pulling their best deals as rate hikes loom.
Some three million people are paying their lender’s standard variable rate (SVR) — the rate to which a mortgage reverts at the end of a fixed deal — which currently averages 4.76 per cent.
Fixing your loan gives you the peace of mind that for two, five or even ten years, your repayments won’t change.