You may have seen the rise in interest rates recently where they have gone up from all time record lows of just 0.25% to the current 2.25%. Financial analysts are now pencilling further rate rises and it is largely expected they could reach dizzying heights like 6 or even 7% in the not-too distant future.
Now if you were a borrower in the 1970’s and 80’s you will have seen interest rates well into double figures, however todays’ mortgage market is very different with mortgage affordability generally being tighter.
If you are on a tracker mortgage or coming to the end of your fixed rate, it is vital you contact a mortgage broker early as we can secure a deal at todays rates up to 6 months in advance! In other words, no matter if and when interest rates rise, you will still get the agreed rate, which will almost certainly be lower than if you leave it!