The mortgage cliff defence
Jul 25, 2023•16 min•Season 3Ep. 109
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Episode description
Facing the prospect of a substantial rate hike? That’s the reality for many mortgage holders who locked in a super-low rate in 2020 or 2021, but it’s never too early to take action.
This week on the Friends With Money podcast, Money's Tom Watson is joined by Josh Brougham, chief product officer at online mortgage broker Finspo, to discuss the fixed-rate mortgage cliff and the action borrowers can take.
- What is the fixed mortgage cliff?
- What can borrowers do, and when should they act?
- How much can people save by avoiding a revert rate?
- Is locking in another fixed rate worth considering?
- Which lenders are offering the most competitive loans?
#friendswithmoney #tomwatson #joshbrougham #mortgages
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