…yesterday the Chancellor George Osborne came clean, he is now on record as stating that the country must prepare for an increase in interest rates. He painted a bleak picture of the threats to the global economy as market turmoil in China continued to send shock waves around the world.
This heralded the worst start for the UK stock market for 16 years, a stark reminder we are not architects of our own destiny. No matter how hard the chancellor and the Bank of England try to resist putting interest rates up, it is outside influences beyond the UK’s control that may dictate the future cost of our mortgages and the availability of super low rates.
He warned borrowers to prepare for more expensive mortgage rates, saying the rise in the rates in America was the beginning of the exit from very very low interest rates.
I know lots and lots of people still have variable rate and tracker rate mortgages. If you don’t believe me ask George Osborn, I am sure he will tell you now is a very very good time to source a new very low fixed rate mortgage especially before they start to go up. Many lenders are offering historically low fixed rates, they will even pay for the valuation and the legal fee’s associated with changing lenders.
Finally, don’t leave it too late to act, there is nothing worse than the feeling you have missed the boat.
Call Westexe now on 01392 216 344 and let us quote you the lowest possible fixed rate.