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Stop Your Mortgage Rate Increasing

Interest rates are going up - the latest Bank of England base rate increase is the highest base rate increase in 27 years.

It comes as The Bank Of England has raised the base rate by 50 basis points.

It means the base rate of interest rates lifts to 1.75%.

But, there are ways to protect yourself from further rate increases.

Mortgage borrowers whose current fixed rate deals expire in 2022 are encouraged to lock in a new fixed rate mortgage deal now.

Simon Gilvey from Broadland Consultants said: "Lots of mortgage lenders allow you to lock in a new fixed rate deal up to 6 months in advance, this can help people avoid further rate increases.

"We have an expert Mortgage Broker team on hand to help advise and we offer a no obligation review of anyone's mortgage."

To arrange a chat with Broadlands, call your local Sowerbys branch.