How often bank (Not BoE) changes mortgage interest rates

ric1982

Hi,

I know its like 'how long is this piece of string' question.

I am going through a mortgage process atm. Just getting the documents ready before actually submitting them to the bank.

Does anyone has any idea how often they change the rates that they quoted when we initially asked for the mortgage. Just anxious about the rates getting changed when we actually submit the application. BoE has not changed the interest rate this month so its some sort of relief but that is not the only driving factor.

Thanks
ric

kingstreet

You mean how often do new mortgage products change?

All the time. Very, very regularly.

Rates change due to market sentiment - what might happen in the future. When the BOE base rate changes, the market for new products changed weeks earlier.

Lenders buy swaps from market counterparties to fund fixed rates and trackers. These are sensitive to market movements and sentiment.

Thrugelmir

Choose from the products currently available. Little point in worrying about the unknown. Not least that "rises" are going to be very gradual in any event.

amnblog

If you want to secure the rate, get the application in.