Secure the best fixed rate mortgages now before rates rise.

According to recent statistics, average rates for fixed rate mortgages over two and five years are rising. Call Deal Direct if you are looking for a fixed rate deal, the market is changing rapidly but we can still secure a great deal to save you money.

The reported figures suggest that the average fixed rate for a two year loan is currently 4.15%, up 0.33% in just six months. Five year fixed rates that were at a rate of 4.57% at the beginning of the year have now risen to 4.72%.

The trend is not limited to fixed rate mortgages, figures show that two-year trackers rates have also increased from an average of 3.37% to 3.63% over an eight month period.

It is possible that there could be further increases as we have seen many lenders announce that their standard variable rates will rise at the beginning of May. Competition for the best deals could increase therefore we recommend that you act now. The estimated average increase in standard variable rates is 0.62%. As an example, on a £150,000 loan this increase would add just over £52 to monthly payments, which is over £600 in a year.

A Deal Direct we are constantly updating our information on products in the wider mortgage market to secure the best rates on offer. We can also advise you on how to check the terms of your current mortgage, including exact interest rates and whether penalties are payable if you change your mortgage.

Your first step to getting a better deal is to call us at Deal Direct. Whether you are looking for fixed rate mortgages to give you the reassurance of consistent payments each month or other types of product, we can help you save money.