Is it time to fix your mortgage or buy to let onto one of the current low fixed rates?
Since the Bank of England base rate dropped to 0.5% in 2009, followed by a further 0.25% plummet in August 2016, many property and finance experts have been spouting that the record mortgage interest rates which followed wouldn’t last for long. Yet here we are eight years later and low-rate products appear to be going nowhere. Surely this trend can’t continue … can it?
During a post-Brexit era of uncertainty, many people have agreed that the opportunity to bag a low rate won’t last long and have opted to fix their mortgage or buy to let onto a five-year fixed rate. This has resulted in a nationwide spike in five-year mortgages, as opposed to the usual popular two or three-year fixed terms, creating greater competition in the market.
The promising longer term mortgage trend has encouraged lenders to release even better products which include additional incentives to save you money; such as no product fees, cashback incentives and free legal work.
As with all good things, they must come to an end. Although nobody knows when rates will rise, industry experts are united in thinking that rates truly can’t get much lower, so it may be best to fix now whilst you can secure a great deal.
If your mortgage or buy to let product has come to an end or is due to expire in the next few months, then get a free quote now to find out what rates and incentives we could offer you.
Our whole of market Mortgage and Protection Advisers will search through the mortgage maze to find you the best deal. We even deal with specialist lenders who can look at cases that are complex or a little out of the ordinary, in most cases, these lenders can only be accessed by approved Mortgage Advisers like ourselves. So don’t worry if your income, property or credit history doesn’t fit the standard mold, our Mortgage and Protection Advisers will be able to find you a competitive solution that meets your needs.
Simply call us on 01702 533 400 or complete our short quote form.
