What a year it has been for mortgage borrowers with interest rates rising much further than expected.
And this has seen borrowers having to cope with large increases in repayments.
The only good news is that the end is in sight, with rates now not expected to rise further.
But for many the next few years will be challenging as they adjust to higher mortgage repayments.
However please keep in mind that these higher rates are not the “new normal”.
The coming months and years are expected to bring a fall in rates, back towards where they were in pre-Covid times.
If you really are struggling with the higher repayments, then please get in touch to discuss your options.
Or if you have friends or family with a fixed rate expiry, then happy to give advice on these.
Lets hope that winter brings less rain, and that spring sees falling interest rates on the near horizon.
