What can the best fixed rate mortgage offer a home-owner?
With rising rates lenders best fixed rate mortgage deals are in high demand.
The fact lenders standard variable rates are increasing and lending criteria has tightened is of concern to many home-owners who are now choosing the increased security that a fixed rate deal can offer.
Lenders best fixed rate mortgage deals tend to be fractionally more expensive than variable options but with news of a double dip recession, home-owners it would seem, are willing to pay a slightly higher premium for the peace of mind and security that a fixed rate offers.
The mortgage option that is right for you depends on your personal circumstances and your willingness to take a risk. For those willing to gamble on the base rate remaining low a tracker mortgage might offer the best option, but with rates rising regardless of the base rate many are now not willing to take that risk.
A fixed rate mortgage means that the same amount of interest will be paid over an agreed period which is usually from 2 to 10 years. During this time monthly costs will not increase which is very helpful when budgeting.
For a market search of the very best fixed rate mortgage deals on offer it is advisable to contact Deal Direct. It can be very difficult for individuals acting alone to make an entire mortgage market comparison to come up with the right deal.
There are so many products on offer with differing terms and lending criteria, but with our expert guidance we can source the very best offers and advise on which is most suitable for you.
Contact Deal Direct for a mortgage market comparison today.
