Fixed-rate deals becoming more expensive
Moneysupermarket the price comparison
website revealed that fixed-rate mortgage
deals are becoming
The top ten lenders have all increased their interest rates on
their fixed–rate deals, simply because the Bank of England
rose the base rate each month since the start of 2007.
Moneysupermarket found out that many mortgage
lenders are in
the process of increasing their fixed-rate deals this week. Louise
Cuming, head of mortgages commented, fixed rate deals are looking "pretty
good" while looking at the base rate, "they appear to be going
up – and fast".
During the start of June period, the monetary policy committee
voted to continue the base rate at 5.5 per cent, with five people
within the committee supporting the result and four voting in
favour of a rise of 0.25 per cent.
Cuming stated that borrowers who want a steady fixed-rate mortgage,
should book their following new deal today if their current deal
"The market is already preparing for the next rate rise – probably
on July 5th," It is only a matter of time before other lenders follow suit and increase their rates again she added."
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