Mortgage Industry News

← Back

Interest rate rumours driving supply of cheap mortgages

Date: Fri, 08 Jul 2005

Although the bank of England held interest rates steady for July rumours about forthcoming cuts are pushing companies to offer cheap deals.

According to the Woolwich mortgage affordability study the cost of mortgage held firm in June but this is set to change with the increasing numbers of fixed-rate mortgage deals on the market.

Moneyfacts.co.uk reveals there are already a number of fixed-rate mortgage deals costing less than or equal to 4.5 per cent - 0.25 per cent cheaper than Bank of England base rate.

What is more, if rates do fall in August, as experts predict will be the case, the costs for customers on discounted, tracker, and capped rate mortgages will also drop.


© 1998-2005 DeHavilland Information Services plc. All rights reserved.

Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.