![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/martin-lewis-issues-warning-for-mortgage-holders-how-to-find-the-cheapest-mortgage-after-rates-hit-15-year-high/&media=https://uknews.evprotec.com/wp-content/uploads/2023/07/crop-22979872.jpg&description=MARTIN Lewis has issued a warning for mortgage holders following a huge rate hike. The money saving expert hosted a mortgage special on his Money Show on ITV this week. 1 Martin Lewis has issued a warning for mortgage holders following a huge rate hike. Credit: ITV It comes after interest rates spiked earlier this week to their highest level in 15 years for an average two-year fix. The average rate on a two-year fixed mortgage soared again, this time to 6.66%, the highest its been since 2008. It means that people coming to the end of a fix could be facing higher bills when they get a new deal. Around 2.4million fixed rate mortgages are due to end between now and the end of next year, according to UK Finance. Speaking on the show, Martin warned Brits not to avoid their banks or lenders if they run into financial troubles. He said anyone finding it difficult to keep up with monthly mortgage payments shouldn't try to hide it. The consumer champion added mortgage holders should be given options and if they aren't, they should make a complaint. Martin said: "If you have serious problems or you're in arrears, please speak to your lender if you are in trouble. "Don't hide it from them. That's a mistake. "Under the forbearance rules lenders should offer you tailored support - so that's payment reductions [and] permanent term extensions. "Now these can hit your credit score but they should be offered to you. "And if they don't then you can make a complaint." Martin also said that for people on a fixed rate deal, it's important to check when it's coming to an end. He said anyone wanting to switch should get onto their current lender and see what they can offer before going elsewhere, as it could cost thousands. Below we reveal how you can find the best deal on your mortgage. How to get the best deal on your mortgage If you're looking for a traditional type of mortgage, getting the best rates depends entirely on what's available at any given time. But there are several ways to){kind=link}
MARTIN Lewis has issued a warning for mortgage holders following a huge rate hike.
The money saving expert hosted a mortgage special on his Money Show on ITV this week.
It comes after interest rates spiked earlier this week to their highest level in 15 years for an average two-year fix.
The average rate on a two-year fixed mortgage soared again, this time to 6.66%, the highest its been since 2008.
It means that people coming to the end of a fix could be facing higher bills when they get a new deal.