Let us help you through the mortgage maze!

The announcement by the Bank of England that interest rates would increase to 5% from 9^th November was obviously disappointing news for home owners and prospective buyers although those with savings will see immediate benefits.

The mortgage market however remains highly competitive and a small increase in interest rates such as the one seen on 9^th November does not automatically filter through to either mortgage rates or mortgage payments.

Recent years have seen many homeowners and buyers opt for discounted or fixed rate schemes where the payment schedule is known and unaffected for the duration of the scheme. In addition, capped rate schemes where the interest rate cannot increase above a pre-determined threshold allow home owners and buyers to budget with confidence.

With, it is estimated, some 2000 schemes available, including news this week of 50 year plus mortgages, it is crucial that those thinking of taking a mortgage or changing their existing mortgage, obtain top quality independent advice.

As part of its award winning range of services, Integra Property Services work with independent financial advisers Paul Belcher and Jenny Brown who are not tied to any particular lender or insurance company and who can search the whole market to ensure that your mortgage decision is the best one for you. It is important to remember that it is not always the cheapest “headline rate” that is the best deal. The arrangement fees, “lock ins” and redemption penalties all need to be considered.

To arrange a free and without obligation discussion, please contact Integra Property Services on 01753 480430 or 01494 725154 or by email at mortgages@integra-ps.com