Rates are rising. Why some homeowners could be better off breaking their fixed mortgage

In a rising interest rate environment, breaking your fixed mortgage could be a smart financial move. Factor Financial advises homeowners to calculate if the savings from a new, longer-term rate outweigh any break fees and legal costs.

A drop in property value might mean your bank is charging you a higher rate, so shopping around is crucial. Lenders are offering competitive cashback deals that can offset switching costs, but always do the maths on the total benefit.