Rates are rising. Why some homeowners could be better off breaking their fixed mortgage

With interest rates rising, homeowners should calculate if breaking their fixed mortgage is worthwhile. Factor Financial notes that savings from a new rate and attractive cashback offers can outweigh break fees and legal costs.

If your property's value has fallen, your bank may offer a less competitive rate. It's wise to compare offers from other lenders, including smaller challenger banks. Always do the maths on all costs and benefits before switching to ensure you get the best deal.