Shop around for best mortgage
www.moneynews.co.uk > Mortgages > Shop around for best mortgage
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Companies |
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Money News |
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Shop around for best mortgage
Thu 31st May 2007
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Research carried out by MoneyExpert.com indicates that some 2.3 million homeowners are risking repayment increases of as much as £207 a month.
The group believes that those people whose deals still have a number of months to run should be looking to book fixed-rate packages to avoid further rate rises.
MoneyExpert estimates that a homeowner moving from a 5.3 per cent rate on repayment to 6.03 per cent will see their repayments rise by £68 a month on a £150,000 loan.
People on a standard variable rate mortgage rising from 5.3 per cent to 7.5 per cent could see repayments rise by £207 a month.
Sean Gardner, chief executive of MoneyExpert.com, said: "There is a massive difference between the average fixed rates around now and lenders' standard variable rates and anyone who fails to look for a new deal will feel the difference in their pocket."
Related News : Mortgages |
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