A leading UK mortgage expert is warning borrowers against making an expensive mistake in 2027 by focusing solely on headline interest rates rather than the overall cost of their mortgage. Sam Fox's advice comes after the Bank of England raised its base rate from 3.75% to 4% on 5 November, its first increase in more than three years, following a rise in inflation to 3.5%. With further increases possible during 2027, homeowners could be forgiven for assuming mortgage costs are heading in one direction. However, the mortgage market is proving more complicated, with several major lenders cutting fixed-rate deals at the same time as the Bank announced its decision.
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