What is the best mortgage rate currently on offer?
What is the best mortgage rate - is a question being asked in many households considering what to do in light of recent mortgage market changes.
Although the Bank of England base rate has not changed for about three years many lenders are using their own discretion and are increasing their SVRs. It is obviously a big dilemma whether to stick with these new rates or to switch to another lender to try and get a better deal.
Those borrowers whose mortgage has reverted to their lender's SVR may find the process of searching for a more cost effective mortgage deal an overwhelming process. Many may find the services of mortgage broker Deal Direct vital in securing a great deal.
When considering what is the best mortgage rate Deal Direct have access to the latest market offers can ensure any recommended product meets your individuals need. Now is a good time to look at swapping from lenders rising standard variable rates to a long term fix.
ING Direct have a five year fixed-rate mortgage offered at a rate of 4.09% with a subsequent variable rate of 3.50%. This mortgage is on offer for those with 60% LTV and has an arrangement fee of £945. For those with 25% equity in their property the Yorkshire Building Society has a five year fixed-rate deal with a rate of 3.49% and comes with a set up fee of just £495.
When looking into what is the best mortgage rate always consider the associated costs of arrangement, solicitor and valuation fees to secure a competitive mortgage deal.
