Will cheap mortgages soon disappear?
For the last few months we have seen UK mortgage rates hit rock bottom.
Last month a 5 year fix for 1.99% was launched, however this deal is one of many ‘lowest ever’ offers which has recently been pulled from the market. In the case of this lowest ever 5 year fix, the rate has been increased from 1.99% to 2.14%.
As swap rates which are linked to fixed rate mortgage pricing fluctuate, lenders react by increasing their rates, and of late the feeling is rates could be on the up.
If you want to lock into a great deal the advice is not to wait as by delaying you risk missing out on a cheap offer.
If you would like to find out which is the very best deal for your circumstances call an adviser at Deal Direct.
- We are an independent ‘whole of market’ broker with access to ALL lenders market-wide.
- We can search every lenders range for deals at your deposit level to find you the most competitive offer.
- We make a ‘like for like’ comparison of all products to ensure we come up with the most affordable overall.
By comparing rates and fees we can ensure you don’t end up paying more than you need to. This is very important when signing up to a new mortgage, as mistakes can be costly over the term agreed.
For example a deal at 2.14% with a £1,675 fee actually works out more expensive over a 25 year mortgage term than a rate of 2.19% with a £975 fee. This is why it pays to seek independent mortgage advice from Deal Direct. We ensure you don’t wind up paying more for your home.
For a ‘whole of market’ mortgage comparison,
call us today on 0800 048 8828.
