Are historically low mortgage rates about to end?

Mortgage deals with rates set at record lows may soon become a thing of the past. It's being predicted that UK mortgage-holders coming to the end of a deal or homebuyers looking for a new mortgage, could be impacted by rising rates. 

In the very near future the UK market could experience an upheaval, as the effects of the election and ongoing Brexit talks start to sink in. So great is the effect of recent events, that for the first time in six years three members of the Bank of England monetary policy committee have voted in favour of making borrowing more expensive, and this might mean that an interest rate rise of 0.5% could be on the cards.

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For anyone looking for a new mortgage, this is significant news. Lenders could start revising their ranges and introduce rate increases in anticipation of the rise.

The question is, what impact will rising rates have on your household finances? For cash-strapped home-owners the impact could be catastrophic, and therefore the advice is to act as soon as possible to secure a mortgage with a record-low rate. 

To avoid paying more for your home, you are advised to lock into a fixed rate mortgage, as this would protect you from the fallout of a possible interest rate rise.

Failure to act could mean paying more for your home, and so don’t delay, contact Deal Direct now to find a cheap deal while low rates are on offer.

To discuss your options speak to one of our highly qualified mortgage experts on 0800 048 8828, or alternatively click on the chat button. Either way, you can begin your search for a new deal right now.

Call Deal Direct today - 0800 048 8828.