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Fixed rates set to rise
meanmachine_2
Posts: 2,624 Forumite
I see Nationwide - like Northern Rock - have put their fixed rates up, just as they loosen their lending criteria even further.
Britannia still one of the cheapest at 4.34%, but probably that rate won';t last long.
As swap rates go up, these fixes are likely to become that much more expensive, in relation to a variable.
Just thought you guys would like to know. It's why fixes of 4.19% seen last year are now a thing of the past.
Britannia still one of the cheapest at 4.34%, but probably that rate won';t last long.
As swap rates go up, these fixes are likely to become that much more expensive, in relation to a variable.
Just thought you guys would like to know. It's why fixes of 4.19% seen last year are now a thing of the past.
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Comments
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meanmachine wrote:Just thought you guys would like to know. It's why fixes of 4.19% seen last year are now a thing of the past.
For the short term maybe. But nobody can actually predict what will happen in the future. Lenders sometimes reduce their fixed rates drastically (despite swap rates) to recapture their market share, as NW and HX have just done.
If there are any ridiculously low fixed rates available in the near future, I imagine they will be two week jobs before they are pulled, thankfully most of my clients saw sense and took advantage of the two latest 4.39% fixed products.
For info, royal bank intermediary partners will be dropping rates on tuesday and also increasing LTV's on most purchase products.Hopefully they will now become more competitive as their service is five star.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
MortgageMamma wrote:If there are any ridiculously low fixed rates available in the near future, I imagine they will be two week jobs before they are pulled, thankfully most of my clients saw sense and took advantage of the two latest 4.39% fixed products.
Yes, a two-week headline grabber, accompanied by a whopping great arrangement fee.
Used to be £299, then £499, then £599, now 1.5%...and so it goes on.0 -
Yes I agree with you, I would like to see the arrangement fee's come down a lot, its been in the mortgage press rather a lot lately, that and exit charges, northern rock have reduced their arrangement fee's via premier mortgage service and rbs have dropped their arrangemet fee on 3 year fixed to £399 from next tuesday.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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