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FlexiLock-in the best interest rate now with peace of mind
Some 55 per cent of homeowners will finish their current fixed deal and need to remortgage or go on to their lenders’ standard variable rate (SVR) within three years, according to Compare the Market.
The Bank of England has estimated some 800,000 families will struggle to pay their home loans in 2023 – up from around 500,000 last year and the highest since the run-up to the 2008 financial crisis.
The rise in interest rates has also impacted the private rented sector. The number of landlords selling up has risen by nearly 13% in four months, the statistics, made available by the estate agents trade body Propertymark, show an increase from July to October.
Is your mortgage coming up for renewal?
If your mortgage product is coming up for renewal in the next 6 months, we encourage you to get in touch with our mortgage brokers.
What if rates decrease after locking in my product?
With our new “FlexiLock” approach, we will search the market for the most suitable product for you and continue to monitor this right up until the product goes live.
Our experienced brokers will liaise with you multiple times before the product goes live. And if we find a lower cost or more suitable product for your circumstances, we will switch the product over.
In practice this means cancelling the rate we had secured and swapping over to the improved rate. This is done with no extra charge to you.
Lets explore the best rates for you
Speak to our award winning brokers about our FlexiLock product switch service. Get started by clicking the Schedule a Call button or call and speak to our senior broker, Danny O’Keeffe today on 0208 364 3444.
New average mortgage rates fall below 6% lower rates expected
Data from financial information service provider Moneyfacts said the typical two-year deal on the market now had a rate of 5.99%, and was likely to fall further.
The average five-year fixed-rate deal dropped below 6% nearly two weeks ago, and is now at 5.78%.
Property market ‘recalibration’ might be underway
The property market is ‘recalibrating’ but should be seen in context of economic events, agents are being urged. The managing director of The Guild of Property Professionals, has predicted that price moderation and a sales slowdown are likely over the coming months.