Following news at the end of last week that Nationwide had cut rates on top fixed-rate mortgage loans, experts indicated that the credit crunch could be coming to an end, but more significant evidence is needed to be certain.
Nationwide, who are the second largest mortgage company in the UK, dropped rates on fixed-rate mortgages . Other lenders such as Halifax, BM Solutions, Bank of Scotland and Intelligent Finance also dropped rates recently.
However, Richard Morea of London and Country pointed out that the crunch was by no means over. He reportedly commented: "Though the most recent cuts are very good news for some borrowers, it does not mean we're at the end of the crisis. Buyers with smaller deposits are also being penalised."
Ray Boulger of John Charcol said that even with cheaper rates, not may not be the time to choose a fixed-rate loan . He reportedly commented: "This is not the time to fix. The general trend is that swaps are falling so there may be more cuts in the next few months. Those that haven't reduced their fixed rates yet also have some catching up to do."
Fixed-rate mortgage reductions could signal end of crunch
Mortgage Quote Line
0845 108 0505
Fixed-rate mortgage reductions could signal end of crunch
Mon, 21 Jul 2008
Recommended links
Mortgage enquiry formMortgage calculator
Maximum borrowing calculator
Switching your mortgage
Mortgage renewal reminder service
Mortgage rates should fall, expert claims
Abbey cuts mortgage rates
Fixed rate mortgage guide
UK mortgage rates and offers
Mortgage lenders directory
Search for a mortgage broker
Mortgage holders, coping with credit crunch, expert claims
Scottish mortgages less affected by credit crunch, figures show
Near prime mortgage crunch
Credit crunch boosts buy-to-let in Scotland
Credit crunch hits mortgage holders
Mortgage applications 'hit by credit crunch'
Mortgage lending getting tighter due to credit crunch
Mortgage applications affected by credit crunch
Self-build mortgages 'unaffected by credit crunch'
Mortgage lending stays strong despite credit crunch
First-time buyers no more affected than others by credit crunch
Despite credit crunch, buy to let mortgages strong
100 per cent mortgages credit crunch casualty
Mortgage holders given crunch warning
First time buyers 'could benefit from credit crunch'
| mortgages news |
|---|
| Buy to let mortgage sector declining - Thu, 28 Aug 2008 |
| House prices continue to fall, according to Nationwide - Thu, 28 Aug 2008 |
| Leeds Build Society lowers the rate on its five-year mortgage - Thu, 28 Aug 2008 |
| More News |
Mortgage Rates by Lender 
Free Mortgage Quote
Mortgages in Scotland
Equity Release
Switching Mortgages
Home Reversion Plans
Commercial Mortgages Arrears & CCJs?
Remortgages- Sub prime mortgages
- Arrears, CCJs
- Self certification
- Debt consolidation
Protect Your Mortgage