House prices: THIS could save you money on your mortgage rates - Express.co.uk

House prices: THIS could save you money on your mortgage rates – Express.co.uk

According to the Bank of England, mortgage rates in the UK are rapidly on the rise. Over 40% of UK homeowners have variable rate or tracker mortgages, which means their rates could increase before the Christmas season, which will affect their holiday spending for sure. However, those who want some relief can apply for a remortgage Best Buy. This opportunity is being offered by the Mortgage Advice Bureau in time for the expected November increases.

Key Takeaways:

The lenders are trying to increase the mortgage rates due to the house prices in UK.
The time has been extended to fix their mortgage rates if the borrowers have not taken any action.
The borrowers will need to be organised with all the paper works ready.

“Predictions of a 0.25% increase on the Bank of England base interest rate are rife, having been fuelled by the Governor of the Bank of England Mark Carney stating last month that he expects an interest rate rise in the ‘relatively near term’.”