UK mortgage rates could rise as Moody's downgrades global banks.
First we were warned by the BoE that UK mortgage rates were set to rise over the summer in reaction to the worsening eurozone crisis.
Then we were told relax it's okay rates will not rise. We were told rates might even be lowered due to the Government's massive injection of cheap funding to support the mortgage market and small business lending.
We all breathed a sign of relief. Now we are being told Moody's downgrading of 15 global banks will most likely raise funding costs even higher and lead to an increase in UK mortgage rates.
So what do you do? Do wait to see what happens before striking a deal or move now while competitive rates remain on offer?
Deal Direct recommend with the mortgage market fluctuating from week to week, those looking to purchase a new property or remortgage should act now.
Some lenders are currently cutting rates, fixed deals in particular are at the moment competitively priced. As no one knows what next week's news will be, it is be advisable to contact Deal Direct sooner rather than later to source you a competitive offer.
Our skilled advisers have access to all lenders offers including some exclusive deals not advertised or offered online.
Contact Deal Direct for the most competitive UK mortgage rates on offer.
