For a while now we have heard in the news how competitive
mortgage products are and this week we saw a glimpse of this in the longer term
products. We saw the first 10 year fixed rate fall below 3% and it is possible
that we could see others follow suit.
Given the uncertainty that lies ahead regarding interest
rates it may not be a bad idea to secure a longer term product while the rates
are at such attractive levels. When the interest rate is increased, which many
economists are predicting will be later this year, it is unlikely we will see
rates of this level for quite some time.
It is encouraging to hear that a new lender has entered the market.
This sends out a positive signal in regards to the strength of the industry and
offers even more competition to the market. There are also other lenders who
are looking to open up their products to intermediaries this year.
For any advice on long term mortgage products please contact us on
01977 674455 or send a message via our website http://www.ramortgages.co.uk/contact.html.
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and £1,500 for mortgages over £2,000.
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