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1.8 Million UK Households Brace for Mortgage Hikes

1/21/2025

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Summary

Story summary

More than 1.8 million UK households will face higher mortgage costs as fixed-rate deals end, especially in 2025.
Santander cautions about possible price increases driven by bond market fluctuations and elevated government borrowing.
Households moving off fixed-rate mortgages may see monthly repayments rise by £146 on average.
Experts advise reviewing mortgage options, recommending tracker mortgages for those expecting interest rate drops.
Current average mortgage rates vary significantly: SVRs at 7.81%, five-year fixed at 5.25%, and two-year trackers at 5.47%.

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Story summary

More than 1.8 million UK households will face higher mortgage costs as fixed-rate deals end, especially in 2025.
Santander cautions about possible price increases driven by bond market fluctuations and elevated government borrowing.
Households moving off fixed-rate mortgages may see monthly repayments rise by £146 on average.
Experts advise reviewing mortgage options, recommending tracker mortgages for those expecting interest rate drops.
Current average mortgage rates vary significantly: SVRs at 7.81%, five-year fixed at 5.25%, and two-year trackers at 5.47%.