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Base rate increase - AWAITING mortgage offer
Dave360180
Posts: 137 Forumite
I saw a similar post although my situation is slightly different.
We applied for a mortgage BEFORE the rate rise and the rate rise has subsequently happened. Should we expect the offer when it arrives to be at the original rate applied for at or a higher rate given the base rate rise ?
Thank you very much in advance - cheers all.
We applied for a mortgage BEFORE the rate rise and the rate rise has subsequently happened. Should we expect the offer when it arrives to be at the original rate applied for at or a higher rate given the base rate rise ?
Thank you very much in advance - cheers all.
0
Comments
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That depends on the nature of the product offered.
If a base rate tracker expect it to be at a 0.25% higher rate than your original illustration.
If a fixed rate, expect it to be as per your illustration.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Fabulous, thank you. It is a fixed rate product. That's good to know, thank you again.1
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Normally, a rate is secured when an application is submitted and any fees paid.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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We wondered the same thing today. Formally applied yesterday, phew!0
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