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To fix or not to fix, that is the question?

Even though the vast majority of experts have taken for granted the fact that UK base rates will remain at 0.5% throughout 2010 and into 2011, at some point we will see UK base rates rise. Many experts are now encouraging mortgage holders, and potential property buyers, to consider whether they need to fix their mortgage rates at current levels or leave themselves open to the markets by remaining on variable mortgage agreements.

The truth is that this has been a question on the lips of many people for some time now and indeed it is something which all mortgage holders and potential property buyers should consider. However, no two situations are ever the same and it is vital that professional financial advice is taken before any major decisions are made. While the outlook for UK base rates and mortgage rates will obviously play a major role in any decision taken in the future, your own personal situation, assets, finances and income will also play a major part.

Your mortgage arrangements, and other financial assets and liabilities, should all be reviewed on an annual basis at the very least to see if any changes need to be made.

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