Fixed rate mortgage costs are rising .

Recent figures reveal that in April 2 year fixed rates increased across all deposit levels by an average of 0.09%.

While this does not seem a massive increase, it is believed that this is just the beginning of a trend and rate increases are likely to get larger.

Average 2 year rates last month increased from 3.52% to 3.61%, this increase has been attributed to the introduction of new Mortgage Market Review rules and uncertainty in the swap markets

While the base rate has remained at 0.5% for yet another month there is growing speculation of when rates will rise.

In addition the government has withdrawn its the Funding for Lending scheme, and with mortgage lenders no longer getting access to cheap funding their costs are rising.

There is also speculation that to stem the tied of rising house prices, changes could be made to the Help to Buy scheme which could bring about a return to the days when first time buyers found it tough to get themselves on the property ladder.

Over the last year many buyers have benefited from cheap deals and mortgages through various government schemes and this could be about to end. If the market is about to under go a change, the advice is to get yourself a mortgage while you still can find one with a cheap rate.

Already 5 year fixed rates have increased and with the same happening with shorter term deals act now and speak to an adviser at Deal Direct. We can find you a competitive mortgage to buy your first home, move up the property ladder or we can find you a cheap deal to beat your current lender's offer and save you money on your home.

Call now for independent advice, and a low rate quote.

0800 048 8828