Mortgage Guides

Mortgage Guides

Mortgage Types

Mortgage Tools

Lenders pull fixed-rate mortgages

Fri, 20 Apr 2007

With anticipation strong for a further Bank of England decision to raise base interest rates once again next month, mortgage lenders have started to pull fixed-rate mortgage loans off the market.

Alliance and Leicester made the first move, pulling their fixed-rate mortgages on Wednesday, with a number of other lenders expected to follow suits. Mortgage lenders base their borrowing cost on money market rates. UK inflation climbed to 3.1 per cent on Wednesday, higher than anticipated.

Financial Services experts and analysts are anticipating an almost-certain rate rise in May. Roy Hardy, a mortgage broker at Cobalt Capital, was reported as saying: "Many lenders are currently offering rates below the money market rate and this cannot go on forever, have been pushed up because of speculation over BoE rates and this means it is more expensive for mortgage lenders to buy money on the market."

Expect revised fixed-rate mortgages from many lenders in the next few weeks.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

 

 

Mortgage lenders

Browse mortgage lender offersMortgage Rates by Lender

  • Browse current mortgage offers from over 90 lenders.
Browse

Free mortgage quoteFree Mortgage Quote

Apply Here

Mortgages in Scotland Mortgages in Scotland

Read More

Equity releaseEquity Release

  • Unlock equity in your home.
Apply Here

Switching mortgagesSwitching Mortgages

Read More

Home reversion plansHome Reversion Plans

Apply Here

Commercial mortgages Commercial Mortgages

  • Commercial property loans
  • Starting a business?
Apply Here

Arrears & CCJs?

  • Remortgages
  • Sub prime mortgages
  • Arrears, CCJs
  • Self certification
  • Debt consolidation
Apply Now

Protect your mortgageProtect Your Mortgage

  • 3 months free mortgage protection cover
Apply Now

Mortgage Newsletter