If you’ve been following the latest Bank of England announcement, you may be wondering what it means for your mortgage.
The Bank Rate has remained at 3.75%, but that doesn’t necessarily mean mortgage rates will stay the same.
In the latest Citrus Mortgage Bites, Richard Harris is joined by Mortgage & Protection Adviser Steve Ody to explain why lenders can change fixed-rate mortgages even when the Bank Rate hasn’t moved, and why millions of homeowners could soon be facing much higher monthly repayments.
Key points from the episode include:
- why mortgage rates don’t always follow the Bank of England Base Rate
- how global events can influence lenders’ pricing
- why around 1.8 million homeowners are expected to remortgage this year
- what to do if your fixed-rate deal is ending soon
- why a mortgage review is about far more than simply finding the cheapest rate
- why protecting your income and family should be part of every mortgage review
Watch the full episode now
Steve’s message is simple: don’t wait until your mortgage deal ends. Starting the conversation early gives you more options and more time to plan.
Watch the full episode above.
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