Take advantage of low mortgage rates with mortgage broker, Deal Direct.
If you are searching for home-financing, mortgage broker Deal Direct can help you to take advantage of today's low rates before they are suspended.
It has been a decade since the Monetary Policy Committee voted to increase interest rates. Back in July 2007, it rose to 5.75% with the average mortgage being offered around 5.8%. Since then, the interest rate has been cut consistently and has resided at today's current point of 0.25% since August 2016. The cuts have resulted in historically low mortgage rates being offered by UK lenders.
For instance, in recent months, the average mortgage rate has been around 2.6% and an average 2 year fixed term remortgage coming in at 2% in April 2017. However, some lenders, such as the TSB, are either removing some low-rate products from their ranges altogether or increasing rates.
This could be because speculation has been growing in recent weeks that a rise in interest rates is to be expected. This has been fuelled by the outcome of the vote by the MPC, signalling a shift towards raising the rate.
If this were to happen, it is thought that a large hike would be unlikely, however, it would mean the end of the current era of record-breaking low mortgage rates.
As house prices have also dropped over recent months, the advice would be to seek professional assistance from Deal Direct to source and secure a mortgage offer, the likes of may never be seen again.
Don't delay and contact mortgage broker, Deal Direct on 0800 048 8828 now.
