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

With interest rates rising, some homeowners may benefit from breaking their fixed mortgage. According to Factor Financial, low or non-existent break fees can make it worthwhile to refix early for longer-term security, potentially saving money as rates climb.

Banks are competing with attractive cashback offers that can offset switching costs. It's also wise to check if a falling property value has increased your interest rate, as other lenders might offer a better deal. Always calculate all costs and benefits before making a move.