Should I fix my mortgage rate now while rates are low? It’s a question that I am asked at least a couple of times a week, and not always by clients, but simply by anyone who knows what I do for a living. People have been asking me this question for a few years now.
It is true that UK interest rates are at historic lows and have been at just 0.5% since 2009 which for most people means that mortgage rates are pretty cheap. And being so low it seems likely to most people that when the rates do start to move it will be up.
When I talk to be people about it I find they watch the news and listen to the radio hoping for a hint of when the rates are due to go up. The press speculate about comments made by Mark Carney (governor of the Bank of England) and the public watch for signs of change in the UK economy.
It seems kind of obvious doesn’t it that your life insurer has a vested interest in keeping you alive!
Relatively recently a life insurer has entered the market who are aiming themselves squarely at those who want to stay or get fit and healthy. Their offering makes them difficult to compare to other providers purely on price it is a really interesting innovation.
So how does this insurer go about getting you more healthy, financial incentives that’s how.