If you're concerned about missing out on lower rates you could: Worrying that interest rates will fall after you've secured a mortgage is absolutely valid, however, especially in a climate where half a percentage point could make all the difference to your affordability. The 1-2% rates many recognise were unusual for the mortgage industry - so it's unlikely they'll return to this level any time soon. Rates may have declined slightly recently, but it's important to manage expectations. The fact that five-year fixed-rate deals are more affordable than two-year fixed-rate deals suggests that the market expects costs to stabilise within the next five years - but this is not guaranteed. We have seen some rate declines recently due to falling inflation, but these might be temporary. It's very difficult to predict how long mortgage rate volatility will last. This can be more expensive to begin with, but gives you certainty that you won't have to pay more for a set period If rates do happen to fall before your deal ends, you can always switch again before the new deal startsįixing your mortgage – If you're on a variable rate, fixing will keep your rate the same for a set period of time. This allows you to lock in a decent rate in a rapidly changing market without paying ERCs). Lock in a new rate early – you can lock in a new rate six months before your existing deal ends. This can be very stressful, but there are a couple of actions that may help you if you expect your current mortgage interest rate to rise: If you've had a mortgage for more than two years, your rates will likely increase when you remortgage in the current climate. Staying on top of current mortgage news is a good way to keep an eye on the market. They will next meet to decide on base rate changes on 2 November. Although on 21 September, the Bank of England's Monetary Policy Committee chose to maintain the base rate at 5.25%. It's therefore possible that we'll see further base rate increases this year, and we may see a knock-on effect in the mortgage rates available. This is largely because the Bank of England base rate is a key lever in addressing inflation, which is not yet close to the 2% target. But these reductions may be temporary so we might see further rises. With inflation falling to just below 7% in August, some lenders have reduced rates on their mortgage products. In this turbulent market, it's difficult to forecast too far ahead. Repayment mortgage of £168,000.00 over 25 years, representitive APRC 7.5%. Other fees may apply.Ħ0% LTV 5 Year Fixed - Virgin Money - 4.71% Repayment mortgage of £196,000.00 over 25 years, representitive APRC 7.6%. Other fees may apply.ħ0% LTV 5 Year Fixed - Virgin Money - 4.81% Repayment mortgage of £224,000.00 over 25 years, representitive APRC 6.8%. Repayment mortgage of £252,000.00 over 25 years, representitive APRC 7.7%. Other fees may apply.ĩ0% LTV 5 Year Fixed - Virgin Money - 5.21%

Repayment mortgage of £168,000.00 over 25 years, representitive APRC 8.4%. Repayment mortgage of £196,000.00 over 25 years, representitive APRC 8.4%. Repayment mortgage of £224,000.00 over 25 years, representitive APRC 8.5%.

Repayment mortgage of £252,000.00 over 25 years, representitive APRC 8.9%.

90% LTV 2 Year Fixed - Virgin Money - 5.7%

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