Fixed rate mortgage market in a state of flux, says John Charcol

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Fixed rate mortgage market in a state of flux, says John Charcol

John Charcol has observed how rapidly the mortgage market is changing and suggested many top home finance deals are being pulled by lenders.

Director of marketing at the company Drew Wotherspoon explained that firms are finding themselves at the top of best-buy lists and then withdrawing products as they are nervous about taking on too much business.

In his opinion, it could be a good idea for people to speak to an intermediary, as they could help individuals secure a competitive home arrangement.

"A broker with excellent relationships with mortgage lenders will know in advance when a mortgage is going to be pulled and can act quickly to secure something for you," he claimed.

Mr Wotherspoon compared the market to a long-distance race, in which no one wants to be leading the pack throughout.

Last month, John Charcol's senior technical manager Ray Boulger predicted that a base rate rise of about one per cent looks likely in the second half of 2011.

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