UK financial chaos: a survival guide for your mortgage, savings and energy

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"If your application is already in with the lender, or you have a mortgage offer, then don't panic, as your rate is secured."There are just under 9m residential mortgages outstanding in the UK, of which about 75% are on a fixed rate, according to UK Finance. "If we look at Nationwide as a lender who, to their credit, have kept their full range available but at markedly higher rates, they put at least 1% on their two-year rates, so they're starting around the 5.5% mark."The prospect of rising borrowing costs means some anxious homeowners are eager to secure a new deal before their current one expires. The rate on a tracker mortgage will directly follow the base rate. Justina Miltienyte, the head of policy at Uswitch, says: "Even if rates are not as high as they were going to be, households will still be facing an extremely difficult winter."Taking into account the £400 energy bill support, households could pay on average £237 more for energy over the three coldest months than they did last year - on top of hikes across other essentials such as food and fuel. "Keep an eye on the exchange rates and you could have more sterling to support your day-to-day costs now, at a time when the cost of living is increasing," she adds. SavingsMany savers have benefited from the series of base rate rises over the past few months, and some might be happy to see interest rates shoot up further. As investment platform AJ Bell puts it: "Despite rates rising, no savings rate can beat inflation.