Lorraine Cooke

Consider fixing as soon as possible, even if you are currently in a fixed rate and you're due to come off that maybe towards the end of this year or even into next year.

Because if you lock into an interest rate now, maybe for four or five years, you're guaranteed that rate for that period of time.

So you take the uncertainty out of the current situation and have certainty in terms of your budget and your cash flow.

So have a look at that.

If you're on a variable rate, do also consider fixing unless you want to continue to make any overpayments on your mortgage.

But generally speaking, variable rates are higher than fixed rates.

So it is worthwhile considering a fixed rate.

Also, people who are on tracker rates, tracker mortgage rates is the rate that tracks the European Central Bank set rate at a set margin.

Don't panic yet.

I saw this the last time when interest rates did increase 10 times.

Every person who has a tracker mortgage was hit by the 10 increases.

And people were panicking and coming off their tracker rates.

Don't do that.

Seek advice first to make sure that, you know, that it is the right thing for you to do.

Or what are the options that you can consider in relation to staying on your tracker rate and maybe overpaying?

Exactly.

Because when the European Central Bank do cut the rates, so as I said, there was 10 rate increases, but there was eight rate cuts.

People benefited from the eight rate cuts who were on tracker mortgages.

So that way, yes, it's the pain of it increasing.

But people who are on tracker mortgages, like trackers stopped around about...