• David Tarry MBA

Is Your Mortgage Deal Ending Before March 2022? Maybe Now's The Time to Act...

Just today, Tuesday, October 13th, there have been two major lenders announce increases to

their mortgage rates from tomorrow. Now, far be it for me to cause alarm bells ringing, but given that mortgages rates have been at their lowest ever level for months, has the tide begun to turn and we'll start to see rates going back up again? Maybe...


There's the threat of an increase in the Bank of England base rate as a result of higher than hoped for inflation figures, and that could have a direct impact on the price you pay for your mortgage if you're on a tracker rate currently, or indeed if you're hoping to get a great rate in the next few months when your current deal expires, as the rates lender's will be offering will probably be higher than today.


So...if it were me and my current deal was finishing any time between now and the end of March, I'd be finding out what I can NOW to lock something in today, ready to complete when my deal finishes...


HOW? It's simple, really, as a lot of lenders' mortgage offers are valid for 6 months, so you can lock it in now, ready for when you need it!


As I say, that's what I'd be doing....


Have a great day - take care.