Financial Times - Higher mortgage rates loom as FLS ends early - Decemeber 2013

The Bank of England is to stop providing cheap finance for home loans amid growing concerns about the pace of house price growth. Experts said that mortgage rates were likely to rise in the medium term, while savers should benefit from higher deposit rates. “Before FLS if you had a 10 per cent deposit there weren’t a huge amount of options. Now it’s quite common to get a 10 per cent deposit mortgage below 4 per cent,” said Aaron Strutt, a mortgage broker at Trinity Financial. Thirty high street lenders now offer mortgages with rates below 2 per cent. Barclays will lend between £500,000 and £2m at only 1.79 per cent. Click here to view the full story: http://goo.gl/Mz5CwQ £ December 1, 2013