Homeowners urged to lock in mortgage deals

Nearly 1m homeowners whose fixed-rate mortgages are due to expire in the next six months are being urged to secure new deals now amid concerns that borrowing costs could rise following November's Budget. Average mortgage rates edged up in October for the first time since February, with two-year fixes at 4.98% and five-year deals at 5.02%, according to Moneyfacts. Experts warn that economic uncertainty, stubborn inflation at 3.8% and market caution over the Chancellor's fiscal plans could delay interest rate cuts until 2026, potentially pushing mortgage rates higher. 

The Sunday Times (19/10/2025)