Fixed Rates and Mortgage Fees on the Rise | AVRillo

Fixed Rates and Mortgage Fees on the Rise

Thursday 03 September 2020  / 

Woman Choosing Mobile

According to Financial Reporter, Fixed Rate Mortgages and Mortgage Fees in general have begun to rise.

Research by Moneyfacts shows that average rates for fixed mortgage deals, both with and without a fee, have increased by 0.25% and 0.33% respectively since July.  However, these remain 0.35% and 0.19% lower than in March of this year.

Similarly the arrangement fees paid for those taking out new fixed rate mortages have risen since the loosening of lockdown restrictions.  Eleanor Williams of Moneyfacts said:

“While fixed rates remain lower than pre-pandemic levels, there may be mortgage borrowers who want to take advantage and secure a new deal but are hesitating due to concerns around needing to cover additional expenses, such as paying a product fee or having to meet other set-up costs like conveyancing fees or valuation expenses. The average fee charged on a fixed rate mortgage has risen to £1,066, £26 higher than it was in March, and £48 more than in June.”

Buyer registrations are booming, the Stamp Duty Holiday deadline is looming and now Mortgage Rates are rising.  Now is a perfect time to move.

Don’t Hesitate, Talk to AVRillo

AVRillo are an award winning nationwide conveyancing team.  We understand that working closely together with your Estate Agent virtually guarantees that you move and move fast.  As an AVRillo client you are also protected by our Money Back Guarantee.  Unlike other conveyancers there’s nothing to pay up front and if you are not 100% happy, you can walk away.

If you are serious about moving, move with AVRillo.  The UK’s Best Conveyancer for a reason.

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