Property News · February 27, 2018

Beat an interest rate rise by locking into a new mortgage now


Some lenders give borrowers six months to take up offers, so start looking early even if you need a deal later in the yearWhile the Bank of England kept the base rate on hold at 0.5% earlier this month, it warned that interest rates were likely to rise more quickly than originally expected. This could lead to some nervousness among those looking for a mortgage later this year.Traditional wisdom has been that you have to wait until you are near the end of your current deal before securing another. But some lenders will give borrowers who are remortgaging as much as six months to take up a rate they have been offered in principle. This means that if you are coming out of a deal in September, you can start searching for a new one as soon as March. Continue reading…

Source : theguardian.com
Read more…Beat an interest rate rise by locking into a new mortgage now

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