According to mortgage experts John Charcol, mortgage rates will continue to fall following the Bank of England decision to keep base interest rates at 0.5 per cent for the twelfth month in a row.
The UK economy is officially no longer in recession, leading mortgage rates to become more affordable for many borrowers . Ray Boulger pointed out that base rate decision and quantitative easing were likely politically motivated, with the outcome of the general election likely to influence mortgages costs.
Boulger was reported as saying "The message for borrowers is simply that no generic advice will do. The political uncertainty may mean the right choice for some borrowers is to batten down the hatches and lock into a fixed rate for at least five years, but with the difference between these and the best tracker mortgages around 2.5%, there is a big premium for the security of a fixed rate . Seeking independent mortgage advice on your own specific situation has arguably never been more important."
Mortgage rates may continue to fall
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Mortgage rates may continue to fall
Fri, 05 Mar 2010
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