The best mortgage rate challenge - let Deal Direct solve the puzzle.
Finding the best mortgage rate is a challenge for current homeowners, first time buyers and property investors all wanting to find the best deal. It can be overwhelming navigating the mortgage market without any expert and professional advice as tempting headline rates inevitably come with set up fees and additional costs.
There is a pattern of borrowers changing from investing in short term mortgages and now looking for the best mortgage rate within the longer term deals. This is because the Bank of England rates are predicted to remain low for some time to come and mortgage borrowers want to take advantage of this whilst they can.
Lenders are currently expanding their 5 to 10 year deals for fixed rate or tracker mortgages ideal for those borrowers desiring increased financial security.
It is advisable to do lots of research and compare all lenders for the latest deals as there is always the risk of being trapped in a mortgage where you end up paying higher monthly repayments because it is the wrong deal.
One of the best mortgage rate deals recently offered was from the Yorkshire Building Society. For borrowers who have a 10 per cent deposit and for maximum loan to value of 90 per cent then a rate of 4.79 per cent is available on a five-year fixed rate mortgage. It is available to first time buyers and those switching lenders to remortgage and has a fee of £995.
