MT Week - Should you go for a long or short mortgage?

Staggeringly high inflation rates over the last few months has forced the Bank of England to increase Bank Rate almost every month.

It means that interest rates on savings as well as mortgages are steadily going up.

Given there’s so much uncertainty around, I thought it might be an interesting time to look at whether you should go for a short or long mortgage term and the cost implications.

It will be especially relevant for those who may need to renew their mortgage in the next year or so, or are thinking about getting a mortgage for the very first time.