![]() ![]() There are suggestions in the media that interest rates will rise.To pay less every month with a lower interest rate. Lowering your mortgage's interest rate can reduce your monthly payment if the repayment term (duration) remains the same. ![]() The top reasons to switch to a fixed interest rate are: Banks won't offer the option automatically so you'll need to do your homework to know the terms and if any fees will be charged. If you are able to get a lower interest rate than your existing deal, switching to a fixed interest rate on your mortgage will most likely save you money every month. ![]()
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