Is now the time to fix your mortgage?
This is a question we have asked on numerous occasions and ultimately it is one which does not have a simple answer. Over the last few weeks we have seen a number of mortgage providers increase the rates they charge and then this week we saw the Nationwide reduce its rates by an average of 0.5%. These very mixed signals are causing problems with regards to UK homeowners who are not sure whether to lock in to the relatively low mortgage rates available at the moment or continue on variable rates for the time being.
As with any investment opportunity, or investment decision to be made, professional advice should be taken at the earliest opportunity to ensure any move is in the best interests of your long-term financial objectives. Too many people have taken short-term financial decisions which have backfired in the longer term and ultimately cost them in pounds, shillings and pence.
As the UK unemployment market continues to hit choppy waters there will be up to 1,000,000 more job losses in the UK over the next couple of years which could impact significantly upon any decision regarding your mortgage arrangement. A lot of people decide to go with a remortgage but everything needs to be taken into account and no stone left unturned in trying to obtain the best deal for your situation and your prospects.
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