You have probably read any number of articles over the last few months warning of rate rises. Whilst it’s true and rates have indeed been on the up for a little while, we are now seeing large increases.
This week a few large lenders have announced rate rises which are larger single increases than we have seen for a long time.
Today Halifax has announced it’s increasing some of its rates by up to 0.60% on the first of March. This is a large increase but perhaps what is more amazing is that this means Halifax will have increased its rates twice in 7 days. Lenders can change their rates at their own discretion but it’s highly unusual to see two increases so close together.
If you’re considering remortgaging with Halifax, get in touch immediately and we’ll do whatever we can to have your mortgage submitted before the rates go up!
More or less every lender will allow you to lock in a mortgage rate at the point at which your application is made. You just need to make sure your mortgage is fully submitted before any changes come into effect to ensure you don’t miss out.
If your mortgage is coming to an end in the next 6 months, now really is the time to make a move.