What should I bear in mind about fixed-rate mortgages?

Fixed-rate mortgages are only worth having if after taking one out, interest rates rise and stay at a high level over the long term. That is why you should always have at least part of your mortgage as a money market mortgage. Firstly, over the last 30 years money market mortgages have always been cheaper than fixed-rate mortgages over the long term. Secondly, they incur far lower fees if you have to unexpectedly sell your property and therefore prematurely break your mortgage – in case of divorce, for example.