Mortgage broker Deal Direct sources the lowest rate offers.

Everyday at independent mortgage broker Deal Direct, we secure low rate, long term mortgages for home buyers. But could these record lows be about to disappear?

The latest predictions from market analysts suggest that mortgage rates for long term fixes, have reached their lowest point. The analysts are taking their cue from the rise in swap rates, which have risen by almost 0.5% since August this year.

It is possible that lenders have anticipated a further trim to the base rate, and have already incorporated this into their current long term ranges. At some point, it becomes unaffordable to make further cuts to mortgage rates, which could indicate they are already as low as they are going to go.

Securing a long term fix now means that you would be tied in for the length of the mortgage. This could be seen as a disadvantage, but some lenders make their mortgages portable. This means that, in the event of a move, you can take your mortgage with you.

The longer length of the mortgage is also an advantage when rates are low. Delaying sourcing a mortgage until later could mean that you miss out on guaranteeing yourself a low rate. Your house purchase may become less affordable, with your monthly repayments being more expensive than necessary.

Whatever your mortgage query, Deal Direct’s expert brokers can offer you immediate assistance.

Contact us now for free, no-obligation advice on 0800 048 8828.