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Remortgage deals disappearing rapidly?
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Unicorn_cottage
Posts: 879 Forumite

Hi I am trying to get a tracker/variable rate mortgage with a low ltv <50% but the deals seem to being withdrawn rapidly. Are more likely to come on the market or do these strange time mean mortgage lenders are getting jumpy? Thanks for advice. Have never remortgaged before.
"Everything comes to him who hustles while he waits" Thomas Edison
Following the Martin mantra "Earn more, have less debt, improve credit worthiness" :money:
Following the Martin mantra "Earn more, have less debt, improve credit worthiness" :money:
1
Comments
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With base rate at a low. Tracker mortgages have been pulled from the market. Hardly a surprising move.
Variable rates are kept higher by lenders as a defense mechanism should their borrowing costs leap. All fixed products by contractual default revert to SVR.
Jumpy of sorts. They'll be slowly and quietly resetting their rates to reflect the fact that difficult times may lie ahead. As everybody else is doing. Lenders will closely be monitoring developments. Likewise they'll be in close contact with UK finance regulatory bodies and the Government. As to further steps that maybe required.1
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