secure any of mortgage deals
To secure any of these two-year mortgage deals, homeowners are being advised to move fast – as brokers believe the current rates are unlikely to be available for long. Leeds Building Society says it has a “strictly limited tranche” of funding for its 1.99 per cent fixed rate, which could see the deal withdrawn within a week.
Brokers are expecting mortgage lending to become more constrained in coming months as the Eurozone debt crisis puts pressure on the cost of funding for lenders, leading to higher mortgage rates.
“It is getting increasingly risky to keep playing the waiting game, as the chances of more attractive new deals being available in the coming months recedes,” explains Bedford. “With rates as low as they are now, there is little to lose by locking into either a fixed or tracker rate now.”