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

In a rising interest rate environment, breaking a fixed mortgage can be a smart financial move. According to Factor Financial, it's crucial to calculate if the benefits outweigh the costs before switching lenders.

Falling property values may cause your current bank to charge higher rates, while challenger banks might offer better terms. Significant cashback offers can often offset break fees and legal costs, making a switch profitable. Before deciding, conduct a full loan health check to compare all costs.