The Mortgage Finance Blog

This morning Abbey have announced changes to their mortgages that see a significant increase in the amount borrowers will be paying for new mortgages.

Fixed rates have increased on average by around 0.5%, which will add £28 per month onto an average £100,000 mortgage

Economists are predicting that swap rates are on an upward trend. Despite today’s rate rises, it is still a great time to think about fixing your rate. Giving you the benefit of a lasting low rate and the peace of mind that it won’t increase with market rates.

Rates have already started to move upwards and this trend looks to continue so it is time to act now. Even if you have a few months before your current mortgage deal ends you can start the ball rolling and get a mortgage offer. Once you have a mortgage offer, the rate is set, irrespective of when you take up the offer (providing it hasn’t expired). This could put you at a huge advantage when your current deal ends.

Why not take the first step and get a free mortgage illustration from nm finance. Simply complete our 30 second application form, or call us free on 0800 783 6272.