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

With interest rates rising, breaking your fixed mortgage could be a smart financial move. According to Factor Financial, homeowners should calculate if the benefits outweigh the costs, such as break fees.

A drop in property value might mean your current bank charges a higher rate, making a switch to a competitor worthwhile. Cashback offers can offset legal fees, but always do the maths. Also, check if you can make extra repayments and avoid paying for unnecessary valuations before you refix.