David Beard, CEO and personal finance expert of financial comparison site, Lendingexpert.co.uk, said: “If your mortgage isn’t on a fixed-rate, first, find out how much your monthly repayments will increase by. If you can’t afford to pay extra, don’t be a sitting duck; talk to your lender ASAP about your options, so you don’t run into trouble down the line. The worst thing you can do is stick your head in the sand”.
Bank of England inflation interest rates 2021: what mortgage borrowers and first-time buyers need to know
