Financial Times - Mortgage rates: act fast as increases loom
The Financial Times reports rising mortgage interest rates are piling pressure on millions of UK homeowners at a time when soaring bills for energy, food and fuel are blowing holes in household budgets across the country.
Last week, for instance, Barclays withdrew six mortgage products only a day after it introduced them, citing the challenges lenders face “when balancing service with product availability”.
Aaron Strutt, technical director at mortgage broker Trinity Financial, told the Financial Times: “Most mortgages last longer than a day, but in many cases, they may only be available for three or four days, with many lenders sending multiple rate change emails each week.
“If you find a rate that you like it’s worth securing it quickly because it will not be around for long.”
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