There was a great deal of speculation once again in this weekend’s press regarding the future of interest rates. The Times, Mail on Sunday and Sunday Telegraph all looked at rate increases from a number of lenders over the last week, suggesting that the bottom of the market has been hit. Brokers reported most of their remortgage clients are opting for fixed rates now to protect themselves from future increases, and advised against waiting too long and risking missing the best offers.
Elsewhere the Sunday Times revealed that equity release numbers are on the increase, with experts suggesting that older borrowers are struggling to secure mortgages from high street lenders due to stricter criteria regarding age. Figures from the Council of Mortgage Lenders show that new lending to the over-65s has fallen by nearly two-thirds since 2007.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE