Networking in Surrey

Mortgage borrowers are missing out on what have become the lowest fixed-rate mortgages in decades, with half not having reviewed their mortgage since March 2009.

According to the website unbiased, many borrowers (37%) would still prefer a Standard Variable Rate deal, and if they did fix, would be prepared to do so at an unrealistic 3.4%.

March 2009 was when the base rate first hit 0.5%, and 16% of unbiased’s sample believe the base rate is so low they do not need to worry about reviewing.

But it points out that with fixed rates falling below 5% for the first time in decades and the threat of future interest rate rises becoming more real, home owners are potentially missing out on the best fixed-rate deals in over a genertion. 
 
The website points out that in the last 24 years, five year fixed rates have never been lower than 4.99% and that the current average three-year fixed rate is 4.35%.  

It says that despite the current market conditions and fixed rates reaching an all time low, home owners remain out of touch with what is available to them.
 
However, fixed-rate mortgages do remain popular with 18 to 34-year-olds, where 44% currently have one, a rise of 6% from 38% in January 2011. This suggests the security of a fixed rate is attractive to the first-time buyer market.

 

If you wanted to discuss about what kind of fixed rate you could achieve to protect yourself, do feel free to get in touch.

 

Thanks as always for your attention.

 

Mark

 mark@themortgagemonkey.co.uk

Views: 10

Add a Comment

You need to be a member of Networking in Surrey to add comments!

Join Networking in Surrey

Member Sponsors (Links)

These NiS MEMBERS help us keep NiS free for you! Click the ads for info and offers...

Power Up My Profile (PUMP)! Get your LinkedIn Profile up to All-Star status and optimised to bring you new connections and more business - book in now from just £19!

Zoom is Booming and here to stay. Get up to speed fast with using this powerful platform for meetings, training and networking events

Meet David Reavely on NiS...

With a diploma in nutritional medicine, PE teacher turned Food Detective’ Dave Reavely detects food intolerances and identifies how your diet and lifestyle affect your health, weight and fitness. Click for details

Meet John Gower on NiS...

Local Networking Works! Start boosting your business TODAY... Please click the ad for details

Meet Tracy Hampton on NiS...

IT Administration & Project Management, Asset Management, Helpdesk Software,Website hosting, Design, Backup, Security and SEO - for all the IT Services your business needs, please call Tracy to talk it through, without obligation!

Meet David Simpson on NiS...

We are an established and professional outbound telemarketing company delivering all your telemarketing requirements whilst establishing a rapport & relationship with your customers.Call now, or email davidsimpson@msm-uk.co.uk

Read our free daily GLOBAL NETWORKING NEWS & TIPS...

Meet Keith Grover on NiS...MyTeam Network takes all your networking to the next level by addressing the space between meetings - it's 'joined-up networking for grown-up people'!

Become a Sponsor and promote your business by taking an ad  - seen by over 2,300 Members, 1,500 unique visitors  with 6,000+ pageviews every month...

"Thanks for getting Google on my side! It's  so nice when you can see a return on your investment."
Emma Selby Farnham Hub

Sean Usher Interviews Keith Grover Part 1 &2...

WATCH A VIDEO of Keith telling Sean Usher all about NiS

© 2020   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service