Remortgaging to a base rate tracker could be a good choice
May 23, 2008
According to some industry professionals remortgaging to a base rate tracker mortgage could be a good choice for many homeowners, as this will enable them to benefit from the series of interest rate cuts that are expected to be applied by the Bank of England next year. Over the past year and a half there have been five interest rate rises, and this has seen the base rate rocket from 4.5% in August 2006 to 5.75% by July of this year. In December, however, interest rates finally fell by 0.25%, taking the base rate to 5.5%. Read more
Former government adviser casts gloomy outlook for house prices
April 3, 2008
A former government advisor and senior economist has cast a gloomy outlook for house prices, predicting that the value of the average property in the UK could plummet by 20% over the next two years, leaving some homeowners facing the pitfalls of negative equity, and seeing many others lose thousands of pounds off the value of their properties. Should this situation come to fruition the average house price could fall from £200,000 to £160,000 in the space of two years. Read more
Remortgagers warned not to delay
February 8, 2008
Consumers that are looking to remortgage to a cheaper, more affordable mortgage deal are being warned not to delay because cheap mortgages are flying off the shelves and selling out at record speeds, according to a recent report. Some of the top mortgages are selling out at very short notice, and experts state that in some cases remortgagers who have signed up to a deal and even paid application fees have lost out because the mortgage has sold out during the process and the remortgager has then had to sign up to a higher rate deal. Read more
Is it wise to remortgage to a base rate tracker?
January 6, 2008
A number of experts are suggesting that homeowners and new property purchasers in the UK may be better off now looking at a base rate tracker mortgage in light of the predictions of further base rate cuts over the coming year. The Bank of England has already cut the interest rate by 0.25% earlier this month, taking the base rate from 5.75% to 5.5%. Those on base rate tracker mortgages will enjoy the benefits of this rate cut right away, and with another two or three cuts expected in the coming year consumers with this type of mortgage could benefit further. Read more