The i - My 1.29% mortgage ends in 2026 - without more interest rate cuts my bill will soar
Karen Burke was delighted to see interest rates cut by the Bank of England on Thursday. The 55-year-old single mother is one of nearly two million people who have a mortgage deal expiring next year, and is already expecting her costs to soar once it does.
Experts currently expect there to be falls in mortgage rates in the new year after the Bank cut interest rates. Aaron Strutt, product and communications director at mortgage brokerage Trinity Financial, told The i: “We are at the stage where taxes have gone up and confidence in the economy is low so the Bank of England needs to act to cut the cost of borrowing. When the base rate reduces, fixes often get more competitively priced and I suspect this will happen again.”
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