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The Telegraph - Homeowners can get a cheaper mortgage – as long as you gamble on a variable rate

Aaron Strutt Image

Homeowners could save up to £1,300 by taking one of the bargain variable-rate deals to the market. Analysis for Telegraph Money showed that those who are willing to gamble on a variable deal could save £700 a year on their mortgage, plus a further £600 if rates fall next year.

Aaron Strutt of Trinity Financial told The Telegraph: “Many borrowers worry about rates rising, so they take a five-year fix, but they may not be aware of how quick and easy it is to swap a variable to a fixed mortgage later on.” 

Mr Strutt explained variable rates were often ideal for customers who planned to move in the near future, as they generally had no early repayment charges. In addition to Halifax, he said HSBC and Nationwide currently offered cheap variable-rate mortgages.
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sunday times telegraph financial times bbc news the express the times
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