Homeowners warned about increased interest rates
18/09/2007
Homeowners have been told that interest rates are going to increase
by 2008. It has been proved that there is still a broad range
of new mortgage deals available below 6%.
From London and Country Mortgages a spokesperson advised not
to be worried about coming to the end of a mortgage deal, but
to begin setting up towards it. Get ready for higher payments
if crucial by budgeting for them now and depositing the money
into savings.
Lenders such as Nationwide, Halifax, Alliance & Leicester
and Yorkshire Building Society have reduce their fixed
rates a short time ago and all offer 2-year fixed rates below 6%.
Lenders have introduced these lower rates and fees on discount
and tracker mortgages creating a spark for borrowers, however
financial experts advise people to investigate thoroughly and
move promptly.
Many lenders will let borrowers reserve mortgages up to 3 months
in advance and people changing on to standard variable rates
from primary deal periods over the following number of months
are being told to take movements instantaneously.
John Charcol, Mortgage
broker, found that top purchase fixed
rates include; Britannia Building Society’s - 2-year fixed
rate -5.49% - £999 fee -95% loan-to-value.
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