Money-saving guru Martin Lewis has tackled one of the biggest dilemmas facing homeowners coming up to the end of mortgage deals - whether to go fixed or a tracker. Appearing on This Morning, the expert was facing questions from members of the public.
One person, Joanna asked what they should do as they were coming to the end of a fixed five year deal. Host Alison Hammond said that she was worried about losing her house and has had a super low interest rate of 2 per cent until now.
Martin gave her the bad news first - that she won’t be able to get the same rate. He said: “Well, your interest rate is going to go up, and it is going to go up substantially because UK based rates have moved very substantially in the last year and your mortgage was set at the time mortgages were at historic cheap rates.
