A drop with Fixed-rate mortgages

15/03/2007

Since these last few months fixed-rate mortgages were on the rise, analysts have found out that this type of mortgage deal is now getting cheaper.

Figures were proved by Moneyfacts.co.uk the financial comparison website that this type of mortgage deal is coming back on the favourites.

Mortgage analyst at Moneyfacts Denise Blake said, "Following the shock base rate rise in January, fixed-rate mortgages flew off the shelves as consumers rushed to get their hands on existing fixed-rate deals before they were pulled,".

"But with base rate remaining unchanged now for the last two months, some level of stability has returned."

In the last 10 days nearly 8 lenders have created their fixed-rate mortgages up to 0.4 per cent more cheaper. Discount rates are still much more cheaper than fixed-rate mortgages stated Moneyfacts..

Browsing through Moneyfacts greatest deal discount rate you can come across a deal as good as 4.73 per cent. With a fixed-rate deal it could cost up to 5.25 per cent which is more expensive.

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