Following a seemingly endless raft of ‘rock-bottom’ rates in 2016, increasing funding costs have led to lenders gradually beginning to bump up their prices. Experts in the financial press pointed to a 0.2% increase in the average cost of a home loan, and the expectation is that more lenders will begin to withdraw their cheapest deals over the coming weeks.
Those worried about rates rising should consider locking into a deal now, suggested brokers in the Times. Even those with 3-6 months left on their current deal can secure a new rate ahead of time.
Elsewhere in the weekend’s news, the Guardian reported on claims that a lack of new affordable homes for key workers is likely to lead to ‘financial and occupational segregation in the South-East’. Housing associations and councils are now able to apply for a share of a Govt fund to increase the supply of homes, and experts have stated that this cannot come quick enough.
What the papers said about the end of record low mortgages
Published 10/01/2017
