Author: Dave Mills
News that HSBC and Barclays are increasing fixed rate interest levels from their all-time record lows should spur borrowers into action.
HSBC is no longer offering its 0.99 per cent two-year fixed-rate mortgage, which was launched in June. And Barclays has also raised its rates in response to a rise in their costs of accessing money in the markets.
Industry experts suggest that this shows that the rates have hit rock bottom and are only going to increase from now on, as Brexit - or the beginning of what could be a very long, drawn-out and uncertain process - supposedly nears in March 2017.
Whilst there is much that is unclear about Brexit, we believe that it is very likely that the rates have bottomed out, and that now is an excellent time to fix your rate for the longer term to achieve stability of payment for what could well be a volatile market during and post Brexit.
As always, if you have any questions about this development in the marketplace, or any other mortgage-related issue, please do not hesitate to give us a call (01489 578338), we’ll be delighted to chat to you in confidence and without obligation.
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