Act Now For A Fixed Rate

Fixed rates have been offered at very competitive rates for many months but this looks likely to change.  Lenders are starting to reprice their fixed rates upwards indicating that they think interest rates are on the increase.  For example Nationwide have increased theirs twice since the start of the year .

Fixed rate mortgages can be ideal for borrowers who need to know what their repayments will be each month.  First time buyers often borrow up to their limit and fixed rates can bring peace of mind.

Those with more flexibility in their income should consider discounted rates.  The best of these are often found to undercut the best fixed rate by .15% or more.  The downside is that if base rates rise by, for example, a quarter point,  borrowers on a discounted rate may end up paying more than those on a fixed rate.

For more information on the best fixed, discounted and tracker rates go to www.you-can-mortgage.co.uk .

Jerome Thompson Cert PFS