4.97 out of 5 based on 2,400+ reviews
4.97 out of 5 based on 2,400+ reviews
Rated 4.97 out of 5 from 2,400+ reviews
However, the developments of the past 48 hours are significant and may impact you.
Inflation concerns, partly driven by the ongoing conflict in the Middle East, have triggered significant movements in the swap markets. As of today, 2-year Sterling Overnight Index Average (SONIA) Swaps have jumped to circa 4%, compared to 3.65% at the end of last week.
Financial markets are rapidly reassessing what the Bank of England may do next with UK interest rates, and lenders have already begun responding by pulling mortgage products and repricing them at higher levels. We believe now is an important moment for borrowers to consider locking in their mortgage rate to protect themselves from further increases and potentially save significant sums over the long term.
Whilst we do not anticipate runaway rate growth, the direction of travel appears to be upward.
Now is the time to pick up the phone. We can provide a formal quotation promptly, giving you certainty on your monthly payments and protecting you from any further rate adjustments.
Most lenders allow borrowers to secure a fixed rate up to six months before their existing deal ends, often with the flexibility to switch if more competitive options emerge before completion.
Every fraction of a percentage point matters on a mortgage. Even a small 0.1% change in rates on a £500,000 mortgage could add hundreds of pounds per year to your payments*.
Those currently on variable or tracker rates are particularly exposed to any fluctuation in rate movements. Locking in a fixed rate today provides meaningful long-term security.
This article is based on information available on the the date of isssue. The views and opinions expressed in this content are those of the author and do not constitute financial, legal, or professional advice, nor should they be interpreted as a recommendation. They do not necessarily reflect the official views, policies, or positions of Private Finance, and are not intended to represent broader market or industry perspectives.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Whatever your situation, our premier mortgage team, can advise on the best solution. We specialise in complex and bespoke mortgage solutions to help you find the best possible terms.
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