(1888PressRelease)
June 21, 2007 - According to Ray Boulger from John Charcol, the anticipation of a further 0.25 per cent rates rise in July or August means that fixed-rate deals are priced at around 5.3 per cent interest - representing poor value for money.
"Arguably, better value can be found in the tracker market with rates starting much lower," Mr Boulger said.
"With the market fully factoring in another quarter point rise, and partially a second one to six per cent, most fixed rates look expensive unless [the base rate] goes beyond six per cent.
"However, many borrowers will still prefer the security that a fixed rate mortgage provides."
Julian King, Director of National Homebuyers echoes this comment: "In the current volatile market, it is crucial that buyers get the most out of their mortgage deal.
"National Homebuyers are experiencing a huge uplift in enquiries from homeowners to whom this is not enough. To some, mortgage repayments have become too expensive to afford already.
"The certainty of further rises will be disastrous to many thousands of homeowners.
"People are already contacting us to find a quick solution to selling their home".
National Homebuyers is the UK's leading fast purchase property firm, buying properties from people who are already overstretched with their finances.
Furher information is available at www.nationalhomebuyers.co.uk/index.asp or people needing a quick sale of their property can call 0870 979 8118.
