Lenders start to reduce fixed mortgage rates

Lee Mortimer, one of the co-founders at Oviso talks about interest rates and where we are with the current market conditions.

Hi, I’m Lee one of the co-founders here at Oviso and also an advisor.

Today, I want to talk to you about interest rates and where we are with the current market conditions.

After Liz Truss’s mini-budget back in October interest rates were increased on mortgages very, very quickly and obviously there has been a lot of negative media news about interest rates going up very, very quickly.

Now the good news is that mortgage providers and lenders have started to reduce their offerings to the consumer. Even this week four or five of the big players in the market have started to reduce their fixed rates.

Tracker rates are still an option to look at because they are generally lower than the fixed rates at the moment, we are not too sure where base rates are going to go in the near future.

The good news rather than the negative news is that mortgage rates are reducing to a more acceptable level, if you are looking to refinance or remortgage or even looking to buy a property.

If you are looking to remortgage in the near future or if you are looking to move house or purchase a property, then feel free to contact us and one of our advisors will be more than happy to help you.

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