Mortgage options available – Fixed rate and Tracker deals
David Blake of Which? Mortgage Advisers talks about the current fixed rate and tracker deals currently available in the market:
Five year fixed rate mortgages
“Rates across the whole market seem to be dropping slightly. The five year market remains very competitive as many people look towards longer term stability and peace of mind for the medium term but don’t want to be locked in for ten years.”
10 year fixed rate mortgages
“The 10 year fixed rate market is becoming more competitive as there is more demand for this type of borrowing. Coventry Building Society offer a market leading product at 65% loan to value at 2.49%. They also offer an offset product at the same loan to value which will appeal to these looking to set up longer term banking relationships at 2.75%.”
Speak to our expert advisers on 0800 316 4071 or request a callback for more information.
“We are also seeing people opt for flexibility and short term cost. The two year market remains competitive with many borrowers becoming more receptive to tracking rates with talk of a base rate reduction. Many tracking rates these days come with no early repayment charges leaving people with the opportunity to switch products, or remortgage if and when rates look set to rise.
As always, there is a right mortgage for everyone but it is dependent upon your individual circumstances. Mortgage rates are historically low and so now is a fantastic time to assess your options.”
It’s best to speak to an adviser in more detail regarding mortgage rates as these differ depending on your circumstances. You can call us on 0800 316 4071 or request a callback.
Our advisers can help you with your individual circumstances. If you’re still confused or concerned about your mortgage options post-Brexit, speak to us if you’re a first time buyer, looking to sell your property, remortgage or looking for a buy to let property.
“Brexit could benefit first-time buyers, some experts have predicted that house prices will drop, and with mortgage rates already low they could get even lower. Those planning to put their property on the market might want to wait until things have settled, so this could stop any potential price drops – it’s all about supply and demand.
If you’re selling your home, uncertainty in the economy could make buyers nervous, which may make it hard to sell your property. Summer is often a quiet period for the housing market and things tend to pick up in September and October.”
Call us on 0800 316 4071 or request a callback to discuss your circumstances in more detail and see how we can help you.