The latest mortgage deals. To fix or not to fix?
Should you lock into a fix rate mortgage deal now while you still can?
UK mortgages remain cheap, however the feeling is market-leading head line rates are about to go up. In particular rate increases are expected in 5 year fixed rate sector, indeed a few lenders have already announced rate increases.
So far both Yorkshire Bank and NatWest have brought in a rate hike for their cheapest 5 year fix rate mortgage deals. Both lenders have cited funding cost increases as the reason for the rate hike.
Property purchases are increasing and in the shorter term sector of the mortgage market, lenders are still fiercely competing for business. At present 2 year fixed rates remain at historic lows and still offer a good deal for those not concerned about longer term security.
For those looking for a longer term 5 year fixed rate mortgage, the advice is to act now and fix a deal because the writing is on the wall. Rates are on the up and mortgage deals are going to get more expensive.
The best advice for anyone looking for a mortgage is to shop around and make a market-wide comparison before settling on an offer.
With so many deals on offer market-wide it really can be a challenge to cover every lenders range, the recommendation therefore is to enlist help.
A 'whole of market' independent broker can help you source a deal, so call an impartial mortgage expert for help and advice.
Contact Deal Direct on 0800 048 8828,
for a market-wide mortgage comparison.
Let us find you a low rate mortgage.
