The Times - Get ready for a mortgage shock
As many as 1.7 million borrowers on cheap mortgage deals can expect their monthly repayments to rocket this year.
About £236.8 billion worth of old mortgage deals will finish this year, according to the consultancy CACI. Santander said its customers will pay an average of £260 more a month after they remortgage.
Aaron Strutt from the mortgage broker Trinity Financial said: “More of our clients are taking two-year fixes or tracker rates without exit fees because many expect rates to fall next year if and when inflation comes under control and they don’t want to get stuck on an expensive rate.”
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