There was substantial coverage of fixed rates in the weekend money pages and journalists looked at how it might make sense to cut and run from a high fixed rate. According to the Sunday Express, over recent years, the Government has encouraged borrowers to opt for long-term, fixed-rate mortgages in a bid to protect themselves against interest-rate fluctuations. However, with rates on other deals plummeting, those on long-term fixes may now be considering switching to a cheaper deal. Experts warned borrowers to consider a number of factors, including how much how much it will cost to get out, what new deal you can secure and what savings you can make over the existing fixed-rate period.
What the papers say - 21st and 22nd February 2009