While the news on both the property and finance fronts continues to get worse there are still people in need of new mortgages, but where can...
While the news on both the property and finance fronts continues to get worse there are still people in need of new mortgages, but where can you spot the best rates now? Everyone seems to be diving for cover with the credit crunch still ploughing on and all of the discount offers have disappeared.
Now is not the best time to be taking out a mortgage with the internal bank lending market still under pressure and many mortgage lenders looking to avoid all but the lowest of credit risk customers. Many are asking if the UK mortgage market could actually grind to a halt if there are any more financial troubles in Europe or the US. But could it really happen?
The truth of the matter is that while there is much pressure at the moment the situation will not drag on forever. It is in the best interests of all governments around the world to ensure there is sufficient liquidity for lenders and that rates are attractive enough for borrowers. If we were to see any further financial troubles in the money markets then the chances are that we would see a concerted effort by central banks around the world to ensure liquidity did not disappear, as well as a short sharp fall in interest rate to stimulate demand.
As for finding the best mortgages currently on the market this is still a case of looking around the major financial comparison sites and seeing what is on offer. Some lenders are still offering attractive rates although for how long remains to be seen, with uncertainty about the short and medium term direction of interest rates. There are still attractive rates out there but they may not be as much in the public eye as they have been over the last couple of years. Look and you shall find…..
Now is not the best time to be taking out a mortgage with the internal bank lending market still under pressure and many mortgage lenders looking to avoid all but the lowest of credit risk customers. Many are asking if the UK mortgage market could actually grind to a halt if there are any more financial troubles in Europe or the US. But could it really happen?
The truth of the matter is that while there is much pressure at the moment the situation will not drag on forever. It is in the best interests of all governments around the world to ensure there is sufficient liquidity for lenders and that rates are attractive enough for borrowers. If we were to see any further financial troubles in the money markets then the chances are that we would see a concerted effort by central banks around the world to ensure liquidity did not disappear, as well as a short sharp fall in interest rate to stimulate demand.
As for finding the best mortgages currently on the market this is still a case of looking around the major financial comparison sites and seeing what is on offer. Some lenders are still offering attractive rates although for how long remains to be seen, with uncertainty about the short and medium term direction of interest rates. There are still attractive rates out there but they may not be as much in the public eye as they have been over the last couple of years. Look and you shall find…..
