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Urgent warning issued for everybody with a mortgage in the UK

Britain Coronavirus Rock record experts

10.08.2020 - 16:49

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Homeowners in the UK have been advised that mortgage rates could be about to 'creep up', following a long period of 'rock bottom' rates.Moneyfacts.co.uk also found that the choice of fixed-rate and variable deals is shrinking.There were 2,526 mortgage products in the market on August 1, marking a fall of 202 products compared with the 2,728 deals available at the start of July, Press Association reports.Moneyfacts said that, following historic lows reached last month, average rates are starting to increase.Average two and five-year fixed rates across all deposit sizes have increased by 0.09 percentage points since the start of July, to stand at 2.08% and 2.34% respectively.Low-deposit loans, which lenders consider to be more “risky”, have.

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