moneysupermarket.com: Mortgage rate changes

16 June 2009

Commenting on the recent spate of mortgage rate changes, Louise Cuming, head of mortgages at moneysupermarket.com, said: "There has been a flurry of activity in the mortgage market, but unfortunately mostly to the detriment of borrowers. Halifax raised its fixed rates today, Nationwide and Chelsea Building Society have already increased many rates, the Principality Building Society increased its 10 year product from 5.19 per cent to 5.39 per cent, and Cheltenham & Gloucester and Abbey are both raising some mortgage rates tomorrow.

"However, there are still some ‘killer' deals about - borrowers with a large deposit who can act quickly can still lock in both fixed and tracker products at around three percent. The watchword here is speed, as the best deals will disappear quickly. If you see a product that suits your circumstances at a good rate don't delay securing it - rates can only rise from now on."