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Millions Facing Higher Payments: What’s next for you and your mortgage?

Approximately 1.6 million fixed-rate mortgage deals are set to expire later this year, and 5 million homeowners are likely to see payment increases between now and 2026. Is a new fixed rate right for you?

 

Whilst the industry expects a reduction in fixed rates, the timeline may be somewhat longer than expected, and this week we could see sub-four per cent rates briefly disappear. This could be a good opportunity for many who have been hesitant, to now act quickly.

 

Why Fixed Rates Matter


Fixed-rate mortgages lock in your interest rate for a set period, usually 2, 5, or 10 years. This means you know exactly what your monthly payments will be, making budgeting and financial planning easier. With unstable interest rates, securing a new fixed rate could provide many with the continued stability they’re looking for, to give them peace of mind that their mortgage repayments will continue to be affordable.

 

Fixed-rate deals offer valuable protection against potential interest rate hikes. By securing a locked-in rate, you can:

 

  • Predict your monthly payments: Consistent monthly payments make budgeting easier and ensure you're not caught off guard by unexpected increases.

 

  • Protect your finances: Rising interest rates can significantly impact your monthly outgoings. A fixed-rate deal shields you from this risk, safeguarding your financial stability.

 

  • Gain peace of mind: Knowing your exact monthly mortgage payment removes stress and allows you to focus on enjoying your home and achieving your financial goals.

 


We're Here for Everyone

 

Whether you're a first-time buyer, looking to remortgage, or want to explore your options, our expert mortgage and protection advice is available to everyone, not just existing clients of Chesterton House or Woodgate. We believe everyone deserves expert advice and access to the best deals available, and we're passionate about helping you achieve your homeownership goals. Tell your friends, family, and colleagues who are considering buying or remortgaging a home to get in touch!

 


How We Can Help You

 

The mortgage industry can be confusing, and things can change rapidly as interest rates fluctuate and mortgage deals come and go. As independent Mortgage & Protection specialists, we access the entire UK market, comparing thousands of mortgage deals to find the perfect fit for your budget and needs.

 

Beyond mortgages, we go the extra mile to protect your loved ones and your investment, giving you true peace of mind. We will personally guide you through our comprehensive range of protection products. Together, you'll explore options like life insurance, income protection, and critical illness cover, tailoring a solution that perfectly fits your individual circumstances and priorities. Whether you need the security of life insurance, the financial safety net of income protection, or the reassurance of critical illness cover, Alex has the expertise to recommend the right solution.

 

 

Ready to Take Action?

 

Contact us today for a free initial consultation. We'll take time to get to know you and understand your long-term mortgage and protection goals before recommending the most suitable solution - and answer any questions you have along the way. Alex and the Mortgage and Protection Team will be your guiding hand throughout the process, making the journey to homeownership or remortgaging smooth and stress-free.

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