If you are dithering, now is the time to act! It’s time for a quick decision, today is the day!
It looks like mortgage rates are on the increase. Scottish Widows, Halifax and NatWest have all announced they are withdrawing rates this week and new products will have higher rates.
If you are already on a fixed rate, give yourself a pat on the back, if you are in the process of applying for a fixed rate – you’ve done well, if you are sitting on your lender’s standard variable rate…. you need to do something. TODAY!
It was back in March 2009 that the Bank of England’s Monitory Policy Committee (MPC) voted to decrease the base rate to the all-time low of 0.5%. Following the Brexit vote in the summer of 2016, the MPC reduced the rate further to 0.25% , in order to stabilise the economy
I’m not sure if it’s the predicted inflation, Theresa May’s Tory Conference Speech or the progress with Brexit negotiations, but lenders are starting to edge their interest rates up a couple of blips. It could of course just be that they have had enough of not really making any money out of borrowers who are paying a meagre 1.2% interest.
Despite economic forecasters predicting rate increases every other month for the last 6 years, nothing has happened with the bank of England base rate. Last month, 2 out of 9 members of the MPC voted for an increase. The latest talk is of an increase by the end of the year. Who know when it’s coming, but we seem to have seen the start.
Today is the day.
Recent posts
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
The UK mortgage market is seeing lenders withdraw deals and hike mortgage rates amid the escalation of conflict in Iran. This isn’t great news for borrowers, with the average rate for a two-year fixed deal sitting above 5%.
Statistics now show that those looking to purchase a property would have to save a deposit bigger than their annual gross pay.
Analysis from the Office for Budget Responsibility (OBR) shows that those looking to buy their first home could face a sharp increase if house prices follow the latest predictions, as Coventry Building Society suggests.
According to Zoopla, four in 10 homes are now cheaper to buy with a mortgage than to rent due to lower-cost mortgages - a sign that ownership is becoming more affordable.
World Sleep Day Tips
13 days ago
There are many people who struggle with getting a good night’s sleep. Having poor sleep hygiene can be the reason for bad sleep quality in adults. Sleep hygiene refers to habits that can help you sleep better.
Here we have shared some tips to create a healthier sleep.
What you need to know about remortgaging
15 days ago
If your current fixed rate is due to come to an end within the next six months, you will want to start thinking about the options available to you.
Nationwide is the first lender to allow mortgage deeds to be signed electronically and without the need for a witness.
More information
Trusted by
