How Do You Find The Best Fixed Rate Mortgage?
There is no escaping the fact that finding a fixed rate mortgage is more difficult than a few years ago and it will certainly cost more. Furthermore, a recently commissioned Treasury report concludes that such difficulties will persist until at least 2010. This is true across the whole range of different mortgage types, of course, and there has been some indication in the middle of 2008, in fact that rates for some fixed rate mortgages have improved from the borrower’s point of view. Can the hopeful borrower do anything, therefore, to secure the best fixed rate mortgage? The element of certainty – of knowing just how much your mortgage is going to be costing each month – is always attractive, but especially so when market conditions are uncertain and particularly for first-time buyers. The certainty of a fixed rate for the first few years of the mortgage (typically two years) is a considerable help when managing a budget that is already fairly well stretched. Borrowers already on a fix
