The Times - Homeowners gambling on one-year mortgage deals
Lucy Andrews at The Times writes a growing number of homeowners are gambling with a one-year fixed rate mortgage instead of locking into a longer term fix in the hope that rates will fall.
Aaron Strutt from the broker Trinity Financial told The Times: “You could be better off with a tracker than a one-year fix, because you may be kicking yourself if the base rate keeps on coming down and you’re on a fixed rate.
“Calculate if you can afford to take the risk with a one-year fix if rates don’t come down. If you can, it’s probably a reasonable gamble.”
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