The Times - Cheap home loans won’t be here for ever
The era of ultra-low interest rates isn’t at an end yet, the Bank of England signalled on Thursday, although borrowers are being warned not to be too complacent as mortgage costs are still expected to rise in the coming months.
However, while the days of record low mortgage rates may be numbered, they are not over yet, says Aaron Strutt, of Trinity Financial mortgage brokers. “Some of the bigger banks and building societies have increased their two and five-year fixes but many deals have stayed the same,” says Mr Strutt. “It is not the end of cheap mortgages as three lenders are still offering sub-1 per cent deals. When they disappear it will be fair to say that rates are rising.”
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