MSE News: Mortgage lenders lengthen product transfer rules to help homeowners to lock in new deals

MSE_Kit

Several major lenders have increased how far in advance existing borrowers can lock in a new mortgage deal as interest rates rise. It comes as many homeowners look to start the process of lining up a new mortgage earlier than usual, hoping to get a cheaper deal and stay ahead of future rate hikes after the base rate hit 1.75% last week.  

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'Mortgage lenders lengthen product transfer rules to help homeowners to lock in new deals'

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Mimski

I didn't know that you could lock a new deal earlier until I saw on MSE just before the hikes hit. I got in contact with my broker and he got a 4.42% (for a non standard home). After talking to other home owners, I found out that we were very lucky. Thank you Martin and your team! Without you I would have waited until my mortgage date was up and probably would have got a rate closer to 6%. Very grateful for what you do.