People often re-mortgage their home when a promotional interest rate comes to an end. However, recently they have been happy to stay on the very attractive Standard Variable Rates that their mortgage reverted to, which in many instances can be just 2.5%.
With fixed interest rates now as low as 1.99% and increased speculation of rate increases at the Bank of England, is it time to tie in to a low fixed interest rate?
More people are preferring to budget by fixing their interest rate as the Standard Variable Rate now looks less attractive because it could be subject to a potential increase.
If you would like to chat about your mortgage options then please get in touch with Platinum. Our in-house mortgage specialist Nick Moynihan is happy to answer any queries.