Rationing of lenders best mortgage deals.
Lenders best mortgage deals are being rationed but they are still available if you know where to look.
Currently mortgage rates are being used to make lenders money and ration mortgage availability. At the present time most lenders would be unable to cope with the application levels that would be created for low rates offered over longer terms, a 3 per cent rate offered over 5 years would prove highly popular. Rates are therefore higher in order to control demand.
If you have a 25 per cent plus deposit or equity level you should have access to lenders very best mortgage deals. You should be looking a cheap rate now. Mortgage rates are going up and by waiting you could miss out on a good deal which could cost you dearly in the longer term.
For the best mortgage rates on offer you should contact 'whole of market' broker Deal Direct, we search the entire mortgages market to source the most competitive rates on offer.
We work out which is the most cost effective product taking into account headline rates, fees, incentives and early repayment charges. We then only recommend the product that we believe is your best interest.
There are currently various competitive rates on offer from lenders such as the Co-op and first direct. For a mortgage market comparison of lenders best mortgage deals on offer contact Deal Direct today. Our skilled advisers will find the most suitable mortgage product for you.
