photo credit: nikcnameIt’s been an interesting week regarding fixed rate mortgages.
I’ve had an e-mail today telling me that Nationwide are cutting the rates on some of their fixed rate mortgages – a quick glance at the products suggests that they are still some way off being cheapest, but they hav etheir niches and individual research for clients will determine if they are good enough. However, it is a good trend.
I see Abbey have released a 4 year fixed rate – this is unusual, there is a distinct trend for consumers to like 3 and 5 year fixed rates, with 4 being overlooked.
However, the rate is good – actually cheaper than some of the Nationwide’s shorter fixed rates. I’m guessing I can read into this that they expect year 5 to be the more expensive for interest rates.
And finally, on the grapevine I gather that Woolwich will be coming up with some fantastic fixed rates for existing borrowers who are on lifetime tracker rates. Now, some of my customers on lifetime trackers are on quite ridiculously low rates, so these fixed rates are going to have to be pretty eyebrow raising to get attention, but if you are a Woolwich tracker mortgage customer who would be interested in a super low fixed rate, send me an e-mail and when they are released I’ll contact you.
