Lenders hike 3 and 5 year fixed mortgage rates so lock into a cheap deal while you can!
With 3 and 5 year fixed mortgage rates on the rise NOW is the time to lock in.
A fixed mortgage rate rise has been on the cards for a while, and therefore it comes as no surprise to hear that this week several lenders have announced that their rates are on the up.
Abbey, NatWest, the Halifax and Nationwide have all introduced a rate hike in the last few days.
While at present we are talking 4 lenders, over the next few days we could see many more follow suit. It is often the case that where one lender leads others quickly follow, and very soon we could see a market-wide rate increase.
Does this mean the end of cheap longer term 3 and 5 year fixed mortgage rates?
This is highly possible and to holding off fixing your mortgage to see what will happen is looking increasing risky.
With Abbey, NatWest, the Halifax and Nationwide having already announced their 3 and 5 year mortgage rates are on the up, the advice is to act without delay.
Lock into a cheap deal while you still can.
To compare all fixed rate mortgages market-wide you are recommended to call independent 'whole of market' broker Deal Direct as we can find you the best rate for your deposit level and circumstances.
Avoid a rate hike by calling an adviser today on 0800 048 8828.
