Mortgage rate uncertainty continues
Time to act now and book your appointment with us
Adapted from an article on weekendmoneyfacts.co.uk May 2018
Short-term fixed mortgage rates have continued to increase in the past month as lenders readied themselves for a rise in the base rate of interest that eventually did not materialise.
According to our latest analysis, the average two-year fixed mortgage rate now stands at 2.51%, some 0.08% higher than a month ago, and the highest average seen since July 2016.
On a more encouraging note, the five-year fixed mortgage rate has remained unchanged at 2.91%. With more borrowers considering long-term fixed rates as an option to protect themselves from future rate rises.
Charlotte Nelson, finance expert at moneyfacts.co.uk, believes lenders have wanted to remain competitive in this area of the market to attract these borrowers to their mortgage book.
“All the uncertainty surrounding a base rate rise in the near future does not mean borrowers should rest on their laurels,” Charlotte adds . “Instead they should see this as the calm before the storm, and anyone sitting on their SVR or coming to the end of their deal should consider remortgaging as soon as possible”
Here at Bristol, Bath and Exeter Mortgages Online, we have access to all the best mortgage deals on the market, including working with lenders who only deal with Independent Mortgage Brokers like us.
So, whether you are a First Time Buyer, looking to remortgage, move to a new house or looking for the best Buy to Let mortgage deal, please call us today.
For more expert information or to book your FREE consultation please visit one of our websites or contact us
www.bristolmortgagesonline.com 0117 325 1511
www.bathmortgagesonline.com 01225 584 888
www.exetermortgagesonline.com 01392 690 888
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