Sunday, August 21, 2005

Better Get Your Fixed Rate Mortgage Now

Homeowners and buyers thinking about opting for a fixed rate mortgage should get in quickly; lenders are starting to withdraw cheap deals from the market.

According to mortgage brokers Savills Private Finance, in the past 10 days Portman Building Society has raised its five-year fix from 4.45 to 4.59 per cent, Northern Rock placed its fixed-rate range on withdrawal notice (meaning it can pull them at short notice) and Abbey withdrew its fixed rate mortgage deals and replaced them at rates of 0.1-0.15 per cent higher. Alliance & Leicester also put its two-year fix on withdrawal notice, while Newcastle withdrew its two-year 4.22 per cent fixed deal.

Sunday August 21, 2005
The Observer

Seems that with oil prices rising and inflation starting to rear its ugly head the Bank of England won't be cutting interest rates any time soon as was previously expected. Now could be the time for buy to let investors to make sure they fix their interest rates.

Chris Bell

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