Mortgage Information

Mortgage Types


Homeowners warned about increased interest rates

18/09/2007

Homeowners have been told that interest rates are going to increase by 2008. It has been proved that there is still a broad range of new mortgage deals available below 6%.

From London and Country Mortgages a spokesperson advised not to be worried about coming to the end of a mortgage deal, but to begin setting up towards it. Get ready for higher payments if crucial by budgeting for them now and depositing the money into savings.

Lenders such as Nationwide, Halifax, Alliance & Leicester and Yorkshire Building Society have reduce their fixed rates a short time ago and all offer 2-year fixed rates below 6%.

Lenders have introduced these lower rates and fees on discount and tracker mortgages creating a spark for borrowers, however financial experts advise people to investigate thoroughly and move promptly.

Many lenders will let borrowers reserve mortgages up to 3 months in advance and people changing on to standard variable rates from primary deal periods over the following number of months are being told to take movements instantaneously.

John Charcol, Mortgage broker, found that top purchase fixed rates include; Britannia Building Society’s - 2-year fixed rate -5.49% - £999 fee -95% loan-to-value.


Free Mortgage Enquiry