I'm not familiar with mortgages in the UK. Are most not fixed rate?
this post was submitted on 29 Nov 2024
4 points (100.0% liked)
BBC
148 readers
168 users here now
BBC News - News Front Page
founded 5 months ago
MODERATORS
A lot of them are fixed for a period of time. Between 2 and 5 years is pretty common I think. After that you get another fixed rate for a period.
Mortgages rates have been falling for the last 12 months so it's people who went on a fixed rate prior to that.