Lenders wage mortgage war - Palmers Solicitors

Lenders wage mortgage war

Homebuyers look set to cash in with welcome savings as lenders slash mortgage rates to attract new customers.

With rates at record lows, two-year fixed rate deals are available for as little as 1.19 per cent and for up to ten years at less than three per cent.

Mortgage broker SPF Private Clients said on 15 January: “There are some excellent deals to tempt borrowers.

“Rates may fall lower still but as always, if you are working to a budget it makes sense to secure a great rate now, rather than trying to be too clever.

“It is not a good idea to play Russian roulette with your mortgage; rates are at historic lows anyway, so you won’t get a bad deal and regret it for years to come.”

Clare Butcher, an associate solicitor at Palmers specialising in residential property, said: “The ready availability of cheaper mortgages can only be good news for homebuyers. Making sure you have your mortgage offer in place when you start house-hunting will mean that you are in an excellent position to move quickly once you find the right property.

“Buyers and sellers will also benefit from having instructed a solicitor before putting their property on the market or making an offer on a home, so that they are ready to act as soon as things start moving.

“Palmers offers a fast and cost-efficient conveyancing service, provided by a team that will provide practical, proactive support from start to finish. For more information, please contact our Property team.”