Short-term fixed-rate mortgages 'unlikely to dip'

Posted: 15 Nov 2011 12:46:08 GMT

There is no reason for people to wait before committing to a short-term fixed-rate mortgage, it has been claimed.

It is unlikely that there will be a significant fall in short-term fixed-rate mortgages any time soon, it has been suggested.

Ben Wilkie, editor at What Mortgage - a monthly magazine first published in 1982 - noted that while there is potential for longer-term arrangements to dip slightly, this tumble will not be marked.

Regarding shorter-term deals, the industry expert observed there is little chance of a decrease, claiming these agreements are "at the bottom".

He stated: "For the people who are looking for a fixed-rate now, then there is no real reason to wait for a longer period of time."

Mr Wilkie was speaking after recent figures released by the Council of Mortgage Lenders revealed loans for both home buying and remortgage dropped slightly in September.

He added another issue facing would-be buyers is the high fees being charged by British lenders as a result of increasing regulation in the mortgage market.
 

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