cheap mortgage deals
20th December 2010
The current Base Rate is unlikely to rise
Good news if you are looking for Cheap Mortgage Deals as the current historic low base rate of 0.5% is unlikely to rise for the foreseeable future according to the Bank of England, a good time for buying but not so good for people with houses for sale.
In a recent Lib Dems speech it was said that there would be a problem if the bank increased its rate, according to the UK Business secretary Vince Cable and also said that the majority of the decision makers at the Bank would not be supporting a rise.
It is said once again that the current inflation we have in England is mostly imported and that and putting up interest rates would not be the answer in dealing with inflation.
The base rate is most likely to stay low as it is until 2012 while the head of economic and market analysis at Nationwide, said the Bank of England is more concerned with growth than inflation, meaning and that the base rate will not increase in 2011.
It does seem that everyone is in agreement that when the base rate does eventually begin to rise it is going to move slowly.
However, everyone must realise that when interest rates do eventually start to rise, a lot of people will probably find themselves struggling to pay their mortgages.
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Here is some general mortgage advice from Lloyds TSB
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An offer of a FEE FREE Mortgage from the Post Office
To help those who want to save on those upfront fees, the post office has waived its £995 fee to £0 in exchange for a higher rate on some of their mortgages.
The post office, a relatively new mortgage provider has made a variety of changes and has adjusted both its residential mortgages and its buy to let interest rates.
It is offering a £0 arrangement fee, its homebuyer fee saver option and a free standard legal fee for people who are remortgaging.
The post office has also offering a sliding fee scale aimed specifically at landlords with lower rates for a higher fee or a higher fee for lower rates so a borrower can go for a lower rate of interest on a 3 year fixed and pay a fee of 2.5% and this can be added to the actual loan.
It has also put a cap on its term tracker loan or lifetime option 65% for borrowers with the flexibility to take a rate that moves in line with the Bank of England Base Rate.
The Abbey has cut its rate and launches its offset deal.
There are a variety of products that when bought through a mortgage adviser it is possible to take out a Flexi Offset mortgage and the product fee can be rolled into the loan.
One of the Flexi Offset ranges includes a homebuyer product with a rate of 3.39% and a £1250 fee.
They are also set to cut the rates on a variety of its mortgage products such as a two-year tracker at 70% LTV (loan to value) for homebuyers now with a £99 fee and 2.85% plus a reduced rate of 0.11% on a 2 year fix for homebuyers at 75% LTV, now 3.42% with a 1% fee.
Homebuyer Solution offers a free basic mortgage valuation and £250 cash back on completion.
Brought to by Sell your House where you can find find houses for sale, visit www.sellyourhouse.co.uk
