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.
Share this..
Related stories
Abbey Is Now The Leading Mortgage Provider In The UK
While many of the UK's main mortgage providers continue to suffer, in relative terms it is Abbey which is proving to be the star of the show. Assisted by the substantial backing of parent company Santander the UK giant has forged ahead to take number one spot in the new mortgage market with a 26% share. The move has seen the group take over from HBOS at the top of the table as rumours continue t...
Read MoreLord Mandelson attacks the chairman of Starbucks
In a sign that the UK government is desperate to support the UK economy on the worldwide stage, Lord Mandelson has launched a vicious attack on Howard Schultz who is the chairman of Starbucks. Apparently Mr Schultz was critical of the UK economy on a CNBC interview on Tuesday evening suggesting it was caught "in a spiral" with "very, very poor" consumer confidence.
While this assess...
Credit card complaints worry Financial Ombudsman Service
Amid signs that more and more UK consumers are unhappy with the service received from their credit card companies, loan companies and payment protection insurance agents, the Financial Ombudsman Service has revealed a sharp rise in complaints. A massive 127,471 new claims were received over the last year which is a 4% increase on the previous year. However, in a reflection of increased efficiency...
Read MoreUK banks back in the spotlight
Analysts expect the top 5 banks in the UK to announce profits for the first half of 2010 in the region of £8.4 billion, something that will again put the sector back in the spotlight. This comes at a time when the UK government is looking to introduce new taxes to reduce bonuses and remuneration packages in a sector which continues to thrive despite the fact the consumers and business in the UK...
Read MoreBarclays joins the bidding for Egg
In a surprise move it has been revealed that Barclays bank has expressed an interest in acquiring Citigroup's offshoot Egg which is rumoured to be for sale at around £400 million. This is an operation which was originally set up by Prudential and then sold to Citigroup back in 2007 for £575 million. However, the American giant has now decided that the online Egg operation does not form part of i...
Read More