The Sunday Times - Homeowners in race to fix deals

Aaron Strutt Image

Millions of homeowners with variable-rate mortgages are being urged to switch to a new rate before a toxic combination of rising interest rates and falling house prices dramatically increases the cost of securing a new deal.

The removal of a swathe of market-leading five-year fixed-rate deals last week has led brokers to warn that five-year rates below 4% could disappear. Aaron Strutt, of Trinity Financial, the broker, said: “Borrowers who qualify should lock into a best-buy deal before rates rise even further.”

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