fintech / news / / Daily Express
Around 971,000 five-year fixed mortgages are due to expire this year.
Homeowners rolling off five-year fixed mortgages now face average monthly increases of £94.
KEY POINTS
- Nearly one million five-year fixed mortgages are set to expire in 2024, per FCA data.
- Recent global conflict involving Iran has triggered rapid mortgage repricing and deal withdrawals.
- Bank of England paused rate cuts in March 2024, holding the base rate at 3.75%.
- Borrowers can secure new mortgage rates up to six months before their current deal ends.
COMPANIES
Summarized by Newsio from Daily Express. How we summarize →