Attractive mortgage rates ‘are available’
Attractive mortgage rates are still available, despite interest rate fears, one banking industry expert has suggested.
Stephen Karle, chief executive of West Bromwich Building Society, has said that the mortgage market is “very well supplied” with favourable deals.
He told Channel 4’s News at Noon that fixed-rates have not changed too much over the past year, offering reassurance to borrowers whose fixed deals are drawing to a close.
“People who are on fixed rates at the moment are fearful they will be coming off onto base rates that are much, much higher than they have been paying for the last year or two,” he said.
“But in fact at the moment it looks like fixed rates will be about one per cent higher than they were a year ago”.
This, he added, means that there are “lots” of providers “out there with products that are very attractive”.
Meanwhile, industry magazine Moneywise has recently advised borrowers considering mortgages for lawyers to seek out expert guidance from brokers.
