These changes in mortgage rates are important to know. You should never get a mortgage without checking rates and insuring they’re manageable for you. The interest rate drastically affects what you end up paying. It is not something to take lightly. If it goes up so does a payment. This could mean the difference between keeping your home or having it foreclosed on. Unfortunately this has happened to many who couldn’t handle their rate increases.
Key Takeaways:
- An increase to remortgage rates is expected for UK houses. The three year fixed rate for residential borrowers will no longer be available.
- Residential borrowers will have to reconsider their strategy to paying down a mortgage. Increase remortgage rates and join the discussion with the right team.
- The move represents a significant effort on the part of investors. Three fixed rate for residential borrowers was once a popular investment to make.
“TSB has announced that its three-year fixed rate for residential borrowers is no longer available.”