Qualified advisers answering your
Financial Questions
call 0800 092 1245

Fixed Rate Mortgages Increased Yet Again

As the doom and gloom in the property sector continues to build up it has been announced that the cost of fixed rate mortgages has risen yet again. While it is something which the big banks have managed to keep out of the popular press, Chase De Vere has released a research note which shows that at least 14 mortgage providers have increased the cost of their fixed rate mortgages over the last two days. The average rate now stands at 6.75%, but is this the top?

While the 6.75% rate is the average, many fixed rate mortgages are well over 7% often with hefty set-up fees to pay. This is another bone of contention in that many mortgage providers are asking for their set-up fees up front rather than adding them to the mortgage figure. This is perhaps a sign of the potential for mortgage arrears to rise in the short term as well as a need for the banks to get income flowing into their operations as soon as possible.

There is widespread concern that while the banks are under pressure they seem to be shouting from the roof tops when mortgage rates go down, but quietly increase their rates with the minimum of fuss.

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