Low mortgage rates may be set to last despite the Moody's downgrade.
UK mortgage rates may not be as badly impacted by the recent Moody's banking downgrade as was first predicted.
It is expected that the negative effect of the Moody's downgrade on the mortgage market, could be offset by news of the falling Libor & swap rates and the government's injection of cheap mortgage funding from August.
Based on this some in the market are predicting that cheap mortgage rates could be set to last. Others are not so sure predicting that rates are not likely to move much in either direction for the moment.
The eurozone remains in crisis, the British economy is seeking growth and banks are being downgraded but news of cheap funding means there is still reason for those looking for a mortgage to be optimistic.
Cheap mortgage deals remain available from lenders keen to attract new customers.
Deal Direct are up to date on all UK lenders offers and are well placed to source you a low rate deal. As an independent 'whole of market' broker we have access to all lenders most competitive rates.
Recent funding changes mean that over the summer months cheap mortgage rates could be on offer, however it is important to remember the best offers tend to be snapped up within days.
If you are looking for a competitive mortgage deal you are advised not to delay.
Contact Deal Direct now and we will source an affordable tailor made deal for you.
