The Sunday Times - Need a new mortgage next year? Lock into a low-cost rate today
Banks are increasingly allowing mortgage borrowers to lock into a new deal earlier to keep their business and discourage them from switching lender.
“We regularly get calls from homeowners whose mortgages finish in a year’s time and they want to know what’s happening to rates,” said Aaron Strutt from the mortgage broker Trinity Financial. “They ask how they can lock into a new deal early and how much it’s going to cost for them to get out of their current deal.
“Lenders are making it easier to switch early so borrowers can lock into the current rates. With the scale of price hikes from the biggest lenders, prices will be much more expensive in a few months.”
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
