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  • When should you remortgage

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  • Remortgaging when house value has increased

    • Remortgaging to release equity.

    Remortgaging in 2025: Should I fix my mortgage now?

    If you are one of the 1.8 million homeowners whose mortgage reaches the end of its fixed-rate term this year, read on.

    Millions of people who fixed their mortgage rate years ago, when interest rates were lower, will find that their monthly repayments jump, when their fixed-rate deal comes to an end. The average standard variable rate (SVR) is 8.24%, according to Uswitch, a comparison site.

    Meanwhile, the average five-year fixed rate is 4.95% and two-year fixes average 5.09%.

    Lenders decide what interest rates to have on their mortgage products by looking at borrowing costs in the economy, both currently and by taking a view on the future outlook.

    They take into account which Bank of England’s base rate (which remains close to a 15-year high, despite recent cuts) and ‘swap rates’, which is the cost of lenders loaning to each other.

    With the economy struggling to pick up steam, some experts believe that the Bank will cut the base rate in 2025, which should bring mortgage rates down too.

    Meanwhile, swap ra

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