This article was published on 23 April 2020. Some information may be out of date.

Take advantage of mortgage rate drop

  • Try to keep up old payments and reduce your term and total interest
  • Or set up a rainy day fund
  • A warning: Don’t expect rates to stay this low forever. How would you cope if rates rise?

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Mary Holm is a freelance journalist, a director of Financial Services Complaints Ltd (FSCL), a seminar presenter and a bestselling author on personal finance. From 2011 to 2019 she was a founding director of the Financial Markets Authority. Her opinions are personal, and do not reflect the position of any organisation in which she holds office. Mary’s advice is of a general nature, and she is not responsible for any loss that any reader may suffer from following it.