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Is the only way up for mortgage rates?

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Is the only way up for mortgage rates?

There is currently a ‘perfect’ storm occurring in the mortgage market. Lenders are taking advantage of cheap swap rates and launching some of the lowest mortgage deals ever seen in the UK, to drive up their market share.

The low swap rates are being driven by a number of factors, ranging from low inflation, slowing of world growth, uncertainty over the Eurozone and an increase in the BoE base rate unlikely until late 2015 or even early 2016.

Another reason for lenders flooding the market with these great rates, is the fact that they’ve now got over the initial teething problems created by the introduction of stricter mortgage rules in April last year.

So what does it mean for borrowers? In short, it means that there are a lot of options out there when it comes to choosing a cheap mortgage deal, especially for people looking to fix their mortgage rate. But hurry, things can change very quickly as lenders often withdraw products at short notice. Also, there’s no guarantee that the current trend for lower and lower rates will continue for much longer, at some point they will start going up again.

With the breadth of choice available, it’s key that you shop around. This is even more important when you consider that some of the best deals come with fees ranging from £0 to £2,000.

That’s where we can help. Our dedicated advisors will make sure that you don’t miss out on a great deal, or your dream home, by searching for the best option for you based on your personal circumstances.

FCA
Springtide Capital Limited is authorised and regulated by the Financial Conduct Authority.

Important Legal Information
There may be a fee for mortgage advice. The precise amount will depend upon your circumstances and loan amount. The FCA does not regulate most buy-to-let, second charge or commercial mortgages. The Financial Ombudsman Service is available at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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