Are things really as bad as the media makes out? - 22.10.08

Author: Michael Aglony Posted on: 22 October 2008

In my opinion, no. Every day I listen to the news and it all seems so terribly gloomy, the UK is heading for a recession, the stock market is unstable, the number of mortgages available are shrinking and mortgage lending is at an all time low.

However when I look at some of the current residential mortgage products available, things don’t seem to be so bad. There are some very competitive rates to be had for example 4.99% fixed for 2 years which allows you to borrow up to 75% Loan to value, alternatively there is a 1.13% above base rate for the life of the mortgage, giving a current rate of 5.63% with a £599 arrangement fee.

With rates constantly changing I would advise you to get in quick and find yourself the best mortgage deals!