Martin Lewis was back at the helm of his self-titled TV show on Tuesday night to give viewers his latest advice on mortgages. The Money Saving Expert founder hosted a 'mortgage special' of his live ITV show, The Martin Lewis Money Show Live, which saw him tackle tough questions on the mortgage crisis.
After 13 consecutive interest rate rises made by the Bank of England, the average rate of a two-year fixed deal has now soared to 6.66 percent, according to Moneyfactscompare.co.uk. "You don't want to be on an standard variable rate if you possibly can, you want to get off that, so you need to know when you’re going to be moved to that.”
“It specifically tends to be around 90 percent, 80 percent and 75 percent until 60 percent, then it doesn’t get any cheaper.