| As the base rate has fallen further to an all time low | | | | example exit fees. Even if you are tied into for a term |
| of just 1%, mortgage interest rates are coming down | | | | it may be worth it to pay the exit fees and benefit |
| too. Those with interest only mortgages have seen a | | | | from lower mortgage interest rates. |
| huge drop in their monthly repayments with some | | | | There are thousands of different mortgage products |
| lucky enough to have grabbed deals where they are | | | | on the market. Using the services of a mortgage |
| paying no interest at all. | | | | broker can take the pain out of searching for the right |
| Great news for variable rate mortgage borrowers | | | | mortgage for you. Some lenders charge a fee while |
| who have seen their disposable income drastically | | | | many are fee free mortgage brokers; you can get just |
| increase. However the best advice and one that many | | | | as good as advice from the fee free mortgage |
| lenders are encouraging are over payments. With | | | | brokers as the paid ones. You can also benefit from |
| interest rates so low you why not continue to make | | | | the expert advice available; many brokers have |
| the same repayments you were making four months | | | | several years of experience of the market. |
| ago when the base rate was 5%. Taking this | | | | One final thing to consider before accepting a |
| opportunity to overpay on your mortgage, while | | | | mortgage deal is if you go for a fixed rate mortgage, |
| mortgage interest rates are so low, means that you | | | | think about what the market may be like when your |
| can potentially take years off your mortgage. | | | | fixed rate deal ends. Many lenders are offering very |
| Lenders rates do vary quite considerably so it is worth | | | | competitive five year fixed rate deals however |
| taking the time to search the whole market before | | | | interest rates may be high when the deal ends. It might |
| deciding on the best deal for you. If you are a current | | | | be more beneficial to stay on a variable rate until the |
| mortgage holder check what rate of interest you are | | | | market starts to recover and then tie into a fixed rate |
| paying as well as conditions of the mortgage for | | | | deal. A broker will be able to advise you on this matter. |