UK Money News
7th July 2008
Fixed rate mortgages becoming more expensive
Rates charged on fixed rate mortgages are continuing to increase despite signs that lending conditions among banks seemed to have improved.
According to research conducted by Moneyfacts, the average cost of a two year fixed rate deal currently stands at 7.07 per cent with three and five-year deals priced at an average of 7.25 and 6.93 per cent
However, swap rates peaked at 6.52, 6.47 and 6.28 per cent respectively in mid-June and have since moderated.
Darren Cook, mortgage expert at the site, said: "It is now three weeks since the peak in swap rates and we would expect to see the cost of fixed rate deals starting to fall, but this isn’t the case.
"In fact the opposite is true, with rates continuing to rise."
As a result of the higher rates being levied, a borrower with a three year fix who is seeking to fix another three years would be paying £158.23 more per month on a fixed rate deal.
back to July's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
