Is it time to fix that mortgage rate?
As the UK mortgage sector, at least on the surface, starts to show signs of life many people believe it is time to take professional advice regarding fixing your mortgage rate. A number of experts have stepped forward to suggest that those who do not consider fixing their mortgage rates by the end of July stand to increase the future cost of fixing their mortgage by £1000. This potentially costly delay is starting to focus the minds of many UK homeowners and investment advisers are starting to see more interest in fixed-rate mortgage agreements.
While it would be wrong to suggest that mortgage liquidity has increased substantially over the last few weeks, there is a feeling that slowly but surely it is becoming more available to the masses. There is a benefit in fixed-rate mortgages for both homeowners and UK mortgage lenders because lenders will be able to forecast future profitability per mortgage arrangement and homeowners will be able to arrange their budgets more efficiently.
Whether or not we are on the verge of a full-blown recovery in the UK property sector remains to be seen, but there does seem to be a renewed vigour amongst mortgage lenders and UK homeowners to put the past behind them and look to the future. Whether this is too late for some homeowners remains to be seen.
Share this..
Related stories
Are we set for a consumer champion within government ranks?
There are growing rumours that the UK government is set to announce some kind of consumer tsar who may have the power to fight legal battles on behalf of consumers in the UK. While we still await details of the UK government's White Paper, due on 2 July, it is believed that the UK authorities are looking to increase protection for UK consumers and simplify the legal challenge process where potenti...
Read MoreChildren 'know about Christmas crunch'
Many children are aware of the financial crisis and are downgrading their expectations for Christmas gifts as a result.Liverpool Victoria (LV=), an insurer and investment firm, said that two thirds of under-18s know that the economy is in trouble at the moment.What's more, 44 per cent said that they were expecting less of a present haul for 2008.Even among those eight to ten-year-olds who still be...
Read MoreUK savers to receive text when introductory rates end
24/07/2015 Savers will receive a text message from their bank or building society when their introductory interest rate expires, under new plans by the Financial Conduct Authority (FCA). Many savers are enticed by introductory ‘teaser’ rates by banks and building societies, however, after a limited time these rates often switch the customer onto a poorer deal. The FCA has said that sa...
Read MoreWill the UK banking sector ever recover?
The ongoing demise of the UK banking sector, with Royal Bank of Scotland, Lloyds bank, Northern Rock and Bradford & Bingley all in some way heavily dependent on the UK government, has cast a very dark cloud over the UK economy. As we mentioned in some of our other articles there is concern within the investment industry and indeed the Standard & Poor's credit rating agency is very downbeat on the...
Read MoreIs The Oil Price Set To Move Higher?
A the oil price moves menacingly back towards highs reached early last week, there are concerns that the uneasy standoff between Iran and Israel is set to cause more friction and concern in world oil markets. The price of Brent crude is now hovering just under $142 a barrel, having broken the $142 level last week before a small bout of selling kicked in. But can the price of oil really move high...
Read More