8 Mar

Fixed rate mortgages provide stability for homebuyers

Fixed rate mortgages provide stability for homebuyers

Homebuyers trying to secure finance for houses for sale in 2011 could find more stability with a fixed rate mortgage.

Speculation about the Bank of England increasing the base rate makes fixed-rate deals a good option, according to Nationwide.

The building society says people buying houses for sale in the UK should speak to their lender and plan for the future.

Martyn Dyson, mortgage specialist at Nationwide, said: "If people think the base rate is going to rise very soon then clearly fixed-rate mortgages might be a good option because they can provide certainty, stability and help with budgeting."

Mortgage customers might be able to save money on home loans by shopping around, he added.

Moneyfacts.co.uk has announced that tracker mortgage rates have fallen to their lowest level ever.

The finance site says the average rate for a two-year tracker deal is now 3.4 per cent – the lowest level since the site began monitoring rates in 1988.ADNFCR-1222-ID-800449301-ADNFCR

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