The big key topic at the moment is interest rates and it's leaving people scratching their heads trying to understand what their best options are.

In this short video, Matthew discusses a number of key insights you might not be aware of when it comes to mortgages including:

Fixed Rate Mortgages: If you're selling but not buying immediately, be aware of redemption penalties associated with fixed-rate mortgages.

Selling and Buying: If you're both selling and buying, consider your options with your existing mortgage. Can it be ported or topped up? Explore different rates and providers to find the best solution for your circumstances.

Standard Variable Rate: Many homeowners find themselves on a standard variable rate (SVR) after their initial mortgage term ends. With recent increases in interest rates, it's essential to review your options with your broker. You may benefit from switching to a shorter-term fixed-rate product or a tracker-based product with no redemption penalties.

Consult Your Broker: The key takeaway is to communicate with your mortgage broker. They have the expertise to guide you through the process, recommend suitable products, and provide tailored advice based on your situation.

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