Reported in Saturday's "Financial Times":
"Homeowners concerned about rising costs should consider reserving a competitive mortgage deal now - even if they're not moving or refinancing until 2012 - as some lenders will let borrowers reserve a rate six months in advance. More lenders increased their mortgage rates this week, as the eurozone debt crisis continued to drive up the cost of wholesale funding. Nationwide Building Society, Woolwich and ING Direct all raised rates, with Woolwich increasing some by as much as 50 basis points. But mortgage brokers are concerned that some homeowners still believe mortgage rates will remain low - or fall - because the Bank of England base rate remains at 0.5 per cent".
This report reflects the almost daily emails we received from lenders across the board detailing increases in some fixed rates. So if you want to review your position, give us a call on 020 8652 9944.
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