Low raters for how long?

August 2nd, 2021
Low rates but for how long?
Just recently Platform an intermediary only lender, launched a 0.95% 2 year fixed rate product.

This is the lowest fixed rate we have known here at Compass.

This was quickly followed by other lenders launching their own headline grabbing rates, including Nationwide who introduced a sub 1% fixed rate.

The question is, will this last?
A lot of people think that interest rates are governed by the Bank of England base rate, which is correct if you have a tracker mortgage, but fixed rates are set by the cost of the lenders buying the funds in the first place.

This is via the wholesale market.

The forecast is that there are no immediate threats of rate rises.

So, as we enter quarter 3 and 4 of 2021 it could be that those with mortgages are set to enjoy low interest rates for the foreseeable future as lenders also jostle for market share.

Want to know more then please get on touch on 01903 81544 and one of our advisers will be able to help.

W: www.compass-mortgages.co.uk

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