Lenders 'increasing tracker margins'
www.moneynews.co.uk > Mortgages > Lenders 'increasing tracker margins'
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Money News |
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Lenders 'increasing tracker margins'
Thu 31st Jan 2008
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Katie Trucker, technical manager at John Charcol, commented following the announcement by a number of lenders who have increased their tracker rates this week.
"Whilst tracker rates have increased, they still offer better value than discounts which depend on lenders reducing their own [standard variable rates] in line with Bank [of England] rate; something that cannot currently be expected," she commented.
Ms Tucker's advice is for borrowers who believe interest rates will be cut to opt for tracker mortgages with no early repayment charges.
For those considering fixed-rate mortgages, John Charcol highlighted that more competitive deals of this nature are entering the market, with some charging flat fees under £1,500.
The current Bank of England rate is set at 5.5 per cent, with the next monetary policy committee decision due next week, on February 7th.
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