Warning UK mortgage rates set to rise further
It comes as 1.5 million people are set to come off fixed-rate mortgage deals this year. …
When a fixed term comes to an end then a borrower reverts automatically to their lender’s standard variable rate (SVR). But brokers say these SVRs have soared, meaning anyone who adopts a wait and see approach would see a massive jump in the rate they pay, and therefore a much higher monthly mortgage bill.
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