Qualified advisers answering your
Financial Questions
call 0800 092 1245

Have UK mortgage rates bottomed out?

The Bank of England has today confirmed that 51,100 mortgages were approved in June compared to 45,000 in May, which indicates there is growing demand for mortgage funding and ultimately UK property. However, the jump in demand between May and June appears to have caught many UK mortgage lenders off-guard and threatens to push up mortgage rates in the short to medium term as long-term finance rates start to rise.

It would appear that the vast majority of mortgage approvals in the UK have been of the fixed term variety which has placed more pressure on the long-term end of the money market. A lack of depth in the liquidity available at this moment in time seems to have pushed finance costs higher which will ultimately mean that many attractive fixed rate mortgages on offer today may not be available tomorrow. If you're looking to remortgage your home or buy for the first time it is vital that you take professional advice and ensure that you get the best deal around for your situation.

Whether mortgage rates will come back down in due course is a point of contention because this continual rise in fixed-rate mortgage rates has the potential to kill stone dead any glimmer of a strong recovery in the sector.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details