Home economics: ‘I’m struggling with my mortgage since interest rates went up – is there a charge to move to a fixed rate?’

Our property finance expert answers your questions

“Because we can’t know what’s ahead in terms of rates, people generally fix because they want certainty of outgoings.” Photo: Getty

I took out a mortgage five years ago and it was manageable at first but got more expensive when interest rates went up, as I stupidly didn’t fix the loan.

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