The mortgage market may be heating up, but this won't fully ease the pain for the roughly 1.6 million existing borrowers with cheap fixed rate deals expiring this year, Alice Haine, personal finance analyst from Bestinvest, explained.
City analysts expect the Bank to start slashing rates in the spring, with some economists predicting they could fall as low as 3 per cent by the end of 2024, driving optimism in the market.
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