{"id":2937,"date":"2022-10-20T11:29:37","date_gmt":"2022-10-20T11:29:37","guid":{"rendered":"https:\/\/www.fpgonline.co.uk\/?p=2937"},"modified":"2023-09-19T09:50:09","modified_gmt":"2023-09-19T09:50:09","slug":"to-fix-or-not-to-fix-that-is-the-question","status":"publish","type":"post","link":"https:\/\/www.fpgonline.co.uk\/index.php\/to-fix-or-not-to-fix-that-is-the-question\/","title":{"rendered":"To Fix Or Not To Fix? That Is The Question"},"content":{"rendered":"<p class=\"\"><span class=\"\" style=\"font-family: Helvetica, sans-serif;\">It has been widely reported that the chaotic financial events witnessed in recent weeks has had a profound impact on the mortgage market \u2013 with homeowners facing a worrying scenario of spiralling rates and huge uncertainty.<\/span><\/p>\n<p class=\"\"><span class=\"\">Although the newest Chancellor, Jeremy Hunt, has rowed back on much of the Government&#8217;s package of tax cuts \u2013 the economic wake has left the average fixed rate deals significantly higher and the variable rate exposed to further hikes in the months ahead as the Bank of England try to dampen inflationary pressures through base rate increases.<\/span><\/p>\n<p class=\"\"><span class=\"\">For those in the situation of having to consider taking out a new mortgage, or remortgage, deal right now, there is no way of winding back the clock\u2026 the question they are faced with is \u201cto fix or not to fix\u201d in the current climate?<\/span><\/p>\n<p class=\"\"><span class=\"\">For example, the best five-year fixed rate mortgage available today is 5.35%, with a two-year fix at 5.64%, however, there is a two year tracker, with no penalties, at 3%. Admittedly, the tracker deal would increase in line with bank base rate rises, therefore, one strategy could be to ride the interest wave up and then back down (if it comes back down) and then fix again at a suitable time.<\/span><\/p>\n<p class=\"\"><span class=\"\">Sitting down and working out the possible strategies and permutations with an independent mortgage broker \u2013 somebody with the experience to calculate the costings to enable you to make as informed a decision as possible \u2013 could help see the wood from the trees right now. Here at The Financial Planning Group, Steve Padgham is available to help clarify what is a confusing time for all homeowners.<\/span><\/p>\n<p class=\"\"><span class=\"\" style=\"font-family: Helvetica, sans-serif;\"><b class=\"\">If you or a friend or family member has a <\/b><\/span><span class=\"\" style=\"font-family: Helvetica, sans-serif;\"><b class=\"\">mortgage or <\/b><\/span><span class=\"\" style=\"font-family: Helvetica, sans-serif;\"><b class=\"\">remortgage <\/b><\/span><span class=\"\" style=\"font-family: Helvetica, sans-serif;\"><b class=\"\">situation <\/b><\/span><span class=\"\" style=\"font-family: Helvetica, sans-serif;\"><b class=\"\">on the horizon and would like to talk though some options, please contact <\/b><\/span><strong class=\"\"><span class=\"\" style=\"font-family: Helvetica, sans-serif;\">Steve Padgham via e-mail at\u00a0<a class=\"\" href=\"mailto:Steve.Padgham@fpgonline.co.uk\">Steve.Padgham@fpgonline.co.uk<\/a>\u00a0or by calling 020 8977 7090.<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It has been widely reported that the chaotic financial events witnessed in recent weeks has had a profound impact on the mortgage market \u2013 with homeowners facing a worrying scenario of spiralling rates and huge uncertainty. Although the newest Chancellor, Jeremy Hunt, has rowed back on much of the Government&#8217;s package of tax cuts \u2013 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2937","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>To Fix Or Not To Fix? That Is The Question - The Financial Planning Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fpgonline.co.uk\/index.php\/to-fix-or-not-to-fix-that-is-the-question\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"To Fix Or Not To Fix? That Is The Question - The Financial Planning Group\" \/>\n<meta property=\"og:description\" content=\"It has been widely reported that the chaotic financial events witnessed in recent weeks has had a profound impact on the mortgage market \u2013 with homeowners facing a worrying scenario of spiralling rates and huge uncertainty. 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