Recent weeks and this week in particular has seen a rush of activity as lenders compete with one other offering lower fixed and tracker rates. Some are reducing fees and offering other incentives. This is very good news for the consumer (and our customers), as increased proper competition means that lenders are starting to reduce the vastly increased margins and fees they have charged since 2008.
One lender tells us that: "As you can see we have reduced the rates on our fixed and tracker rates across the board, with our new credit system now in place we are looking to massively increase business levels in May. Also we now offer an amazingly competitive 90% 2 year fixed deal (purchase products launched - with 2 Year Fixed rates starting from 5.65% with no additional product fee)".
This is a good time to be considering a purchase or reviewing your existing arrangements. So unless you are currently paying 2.5% or lower on your variable rate, it is highly likely that you could save money now! Indeed, you can be sure that if we suggest you move your mortgage, we will be certain it is the best thing for you! So why not give us a call on 020 8652 9944, 7 days a week?
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