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UK homeowners fix their mortgages as rates become more competitive
1:05pm Friday 23rd July 2010 in Local Property News
Homeowners have been taking advantage of the lowest interest rate levels since November 2008 , which is welcome news for buyers in the North West and homeowners looking to remortgage, according to leading local estate agents Bridgfords.
However, customers still enjoying variable rate mortgages might need to prepare for increases as the pressure mounts for the Bank of England to increase the base rate with inflation hitting an 18-month high.
Remortgage customers have the opportunity to take advantage of the competitive rates being offered with many fixed rate mortgages now at the same rates or less than many variable rate mortgages.
A recent report by Countrywide, the UK’s largest mortgage broker, revealed that 72 percent of buyers in June opted for fixed rate mortgages as they look to shield themselves from future interest rate rises.
The findings are based on the activities of more than 700 Countrywide mortgage consultants, including consultants based in Bridgfords offices located throughout the North West.
Alex Gasteen, Financial Services Director of Bridgfords said: “We’ve launched a number of exclusive mortgage products with fixed rates to give the growing number of home movers some certainty for the future. Overall, we’ve seen the total number of new mortgage products available increase by 193 percent since June 2009 - this is fantastic news for customers and improves the choice of rates, deposits and repayment options to suit all budgets”.
Alex Gasteen, Financial Services Director added “We offer a competitive range of exclusive rates that you won’t find elsewhere on the high street – ideal for customers making their next move up the property ladder or for those simply looking to remortgage or purchase a buy-to let property.”
To coincide with this news, Countrywide Mortgage Services has unveiled a new range of exclusive mortgage products for local home movers and buy-to-let customers, and a groundbreaking Countrywide Rewards scheme.
Countrywide Rewards offers new mortgage customers a range of discount vouchers from leading retailers, cinema tickets and spa days, while the top rewards include city breaks, free flights and exotic holidays to a choice of 30 worldwide destinations. To find out more about Countrywide Rewards and the best mortgage rates available to you, speak to your local Countrywide Mortgage Consultant based in Bridgfords offices in the North West. Countrywide Mortgage Services does not charge for its advice and recommendation service - simply call 0800 988 7925 to make an appointment or visit www.countrywidemortgages.co.uk.