Taking an interest: When will UK interest rates rise? How much will they go up by? What does it mean for my mortgage?

One upside of the global financial crisis and ensuing recession was the persistence of low interest rates, which encouraged homebuying and made mortgages extremely affordable. Now, with economies on the boom globally, central banks are considering interest rate hikes, which will translate into increases in mortgage rates as well. As such, homeowners with variable-rate mortgages should consider switching to fixed-rate products to lock in today’s rates, and new buyers might wish to consider accelerating their search process.

Read more: Taking an interest: When will UK interest rates rise? How much will they go up by? What does it mean for my mortgage?

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