{"id":1448,"date":"2022-11-09T15:12:33","date_gmt":"2022-11-09T15:12:33","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=1448"},"modified":"2022-11-09T15:12:36","modified_gmt":"2022-11-09T15:12:36","slug":"mortgages-in-times-of-rising-rates","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2022\/11\/09\/mortgages-in-times-of-rising-rates\/","title":{"rendered":"Mortgages in times of rising rates"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>With\ninflation expected to remain above the Bank of England\u2019s (BoE\u2019s) target deep\ninto 2023, interest&nbsp; rates are forecast\nto rise further still. What can mortgage holders expect for the&nbsp; coming year?&nbsp;\n&nbsp;<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Up and down <\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The effect\nrising rates have on you depends on your mortgage type. Those with a tracker\nmortgage will have already seen their rate increase directly in relation to\nBank Rate, meaning costlier repayments as soon as the BoE makes a change.&nbsp; <\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Standard\nvariable rates (SVRs) also rise (or fall) in response to the BoE\u2019s\ndecisions.&nbsp; But SVRs can change at any\ntime because they are set by the lender rather than simply tracking Bank\nRate.&nbsp; <\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Shielded \u2013\nfor now <\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Fixed rate\nmortgages, on the other hand, are protected \u2013 for now. If you are on a fixed\nrate, that means you won\u2019t see any changes in your mortgage until your current\ndeal ends.&nbsp; <\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>At the end of\nyour fixed-rate deal, you will automatically be switched to your lender\u2019s SVR\nor a reversionary rate, which could prove expensive. So, it\u2019s a good idea to\nconsider your options well before the end of your fixed term.&nbsp; <\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Should I\nremortgage now? <\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>If you\u2019re in\nthe last six months of your current mortgage deal, it might be worth locking\ninto a fixed rate mortgage now. By locking into a mortgage deal before your\ncurrent one expires you can avoid rolling onto your lender\u2019s default rate.\nHowever there may be a penalty for leaving your current deal early.&nbsp; <\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>We can help\nfind the most suitable option for your unique circumstances.&nbsp;&nbsp; <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>With inflation expected to remain above the Bank of England\u2019s (BoE\u2019s) target deep into 2023, interest&nbsp; rates are forecast to rise further still. What can mortgage holders expect for the&nbsp; coming year?&nbsp; &nbsp;&nbsp; Up and down The effect rising rates have on you depends on your mortgage type. Those with a tracker mortgage will have [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":1445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,76],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1448"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=1448"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1448\/revisions"}],"predecessor-version":[{"id":1449,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1448\/revisions\/1449"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/1445"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=1448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=1448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=1448"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=1448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}