Taking stock of your finances
With the summer drawing to a close and the children back at school, now is the perfect time to take stock of your finances in the long run up to Christmas. With rising fuel prices and the cost of living as high as ever, it is worth taking a look at your current mortgage arrangements.
You may be on a tracker or standard variable rate (SVR) taking advantage of low monthly repayments but interest rates will not remain this low forever. When the Base Rate does start to rise again, it may do so quickly. You may have budgeted for fluctuating mortgage repayments but if you cannot afford to be wrong - ie. when rates rise again - it may be wise to take out a fixed rate.