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Fixed-rate could be 'best option'
Published: 19/03/2007 |
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Now could be as good a time as any to jump onboard the fixed-rate mortgage band wagon according to broker, Savills Private Finance. The Independent quotes Melanie Bien of the broker as stating that swap rate decline of late has had a knock-on effect on fixed-rate mortgages in the UK, making them "as low as they were at the start of January". Due to the last Bank of England base rate hike which occurred back in January - the third such increase since last August - some homeowners rushed to get their hands on fixed-rate deals before another increase set in, predicted by analysts. "You can now get deals below five per cent, but these come with hefty fees, so you have to do your maths - although the fees do drop as the rates get higher," David Hollingworth, from broker London & Country, told the Independent. Some of the mortgage lenders who have recently reduced their fixed-rate offerings include Abbey, Direct Line, Alliance & Leicester and Britannia building society.  © Adfero Ltd
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