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

With interest rates rising, breaking your fixed mortgage could save you money if the break fees are low or non-existent. This can provide peace of mind by locking in a new rate for longer.

Falling property values may cause your bank to charge higher interest, so compare offers from other lenders. Many banks are offering attractive cashback deals that can offset switching costs.

Before making a move, always do the maths by weighing break fees and legal costs against potential interest savings.