Martin Lewis warns of ‘dangerous’ mortgage decision homeowners could make

Martin Lewis has issued a warning to homeowners on a fixed-rate mortgage.

Speaking on Good Morning Britain on Tuesday, 11 July, the MoneySavingExpert founder explained that he believes it is “dangerous” for people to wait until interest rates return to a normal level before deciding on a fixed or variable rate for their mortgage.

Mr Lewis’s advice came as mortgage rates passed the peak seen after Liz Truss’s disastrous so-called mini-Budget of Autumn 2022.

The average two-year fixed-rate deals reached 6.66 per cent on Tuesday, figures from Moneyfacts showed.