FINANCE/PROPERTY
First-time buyers: fixed-rate or variable mortgage?
he mortgage you choose will depend on many factors, from your financial position to your attitude to the risk of rising interest rates. Fixed rates give you certainty over your monthly budget for a period of time but some variable rates may be cheaper. Chris Sykes, technical director, Private Finance, says: ‘Firsttime buyers should bear in mind that property prices may fall, so if you’re buying with a 5% deposit now, I’d generally recommend a five-year fixed
