Aug. 19, 2009 -
PRLog -- The mortgage market has undergone a large number of changes during the two years of the credit crunch.Many mortgage lenders have withdrawn from the market, and there are in fact 26% fewer lenders now than at this time last year. Many mortgage products have been withdrawn. The tracker mortgage has been a good deal since the Bank of England base lending rate was reduced to 0.05%. This lowest rate in history has meant that as the tracker mortgage tracks the base lending rate, it has been a very cheap form of mortgage. However no one knows how long the base lending rate will remain at 0.05%. Some experts predict that the rate will not remain so low for much longer while others believe that the base lending rate of 0.05% will be with us until the end of 2011. Who can really predict what will happen? Obviously no one unless they can see into the future.. You can also apply for a fixed rate mortgage or remortgage as these products are also still available although many lenders have withdrawn the longer term fixed periods of over ten years or more. Fixed rates of two years to five years are still to be had, although they are more expensive than the tracker you will at least know what you will be paying for your mortage in the foreseeable future which in these chaotic financial times can be a comforting place to be.There is such a vast number of mortgages from which to choose that it would be best to contact an independent mortgage and remortgage broker or I.F.A. who can advise you on the vast number of mortgage products and guide you through the mortgage minefield.
http://www.championfinance.com/mortgages.htm# # #
Champion Finance has been established since 1985. We arrange secured loans for all purposes. Whole of market mortgages and remortgages available from all mortgage lenders such as Abbey, C&G, Woolwich, RBS, Halifax, Accord, Nationwide, Alliance and Leicester, etc. etc.
http://www.championfinance.com/
mortgages.htm
