Affected by the latest mortgage rates increases? Now is the time to switch.
Latest mortgage rates increases announced by lenders affect many mortgage deals. As standard variable rates rise many existing home owners will see monthly payments increase from 01 May. However if you are looking for a mortgage or remortgage product there are still some great deals in the market place.
At Deal Direct we can source competitive deals from throughout the mortgage market and can compare current products with your existing mortgage. If you have substantial equity in your home, you are in the best position to get a good deal but whatever your circumstances we can help you find the best deal to fit your situation.
Recently published figures indicate that there has been a reduction in the average cost of a five-year fixed-rate loan in the past year. The latest mortgage rates are at an average of 4.86% compared with 5.59% just twelve months ago. The low base rate also continues to make many tracker mortgages an attractive option. New products are coming into this competitive market on a daily basis.
In spite of the Bank of England base rate remaining low, lenders standard variable rates could continue to rise at any time as they are not linked to the base rate. Whilst it has been predicted by many that the base rate will remain at 0.5% for some time, when it does rise rates may rise again across the mortgage market.
For the latest mortgage rates call Deal Direct. We are constantly updating our information so that we can bring you the best deals available.
