Best Contractor Mortgage Deals Disappearing Fast
Moneysupermarket.com is urging contractor borrowers to act now as lenders have started to increase the prices of their contractor mortgage products.
As if the news of Lloyds TSB announcing the closure of the Intelligent Finance “Offset” brand to new business from 1st July wasn’t bad enough to Freelancers seeking new mortgage deals. Lenders have started to now raise their fixed rates. Halifax raised its fixed rates today, Nationwide and Chelsea Building Society increased rates and Abbey have announced they will be raising rates tomorrow.
However, there are still some excellent deals about for Freelancers with large deposits seeking freelancer mortgages, who can act quickly. The best deals are around 3% but they will not be there for long – rates can only rise from now on.
Market speacialist have commented that the recent flurry of activity in the mortgage market has mainly been to the detriment of borrowers.
