3
Jul
Tracker mortgages becoming more popular, claims
moneysupermarket.com
Tracker mortgages are becoming increasingly attractive to
homeowners because of the increase in interest rates on their fixed
counterparts, it has been suggested.
Figures from moneysupermarket.com reveal that a borrower with a
£300,000 mortgage could pay up to £100 more every month
if they are on a fixed rate.
However, the price comparison website warns that experts predict
base rates to increase this year.
Even a one percentage point rise would see the mortgage situation
reversed, moneysupermarket.com continues.
Louise Cuming, head of mortgages at the website, said: "Anyone
thinking about fixing must act quickly. Lenders are increasing
rates on an almost daily basis and there is a strong feeling that
we have now passed the bottom of the mortgage market."
In related news, Mortgageforce believes that many homeowners are
confused about which is the best type of mortgage for them.
As a result, the previously preferred option of a fixed-rate deal
is no longer as popular.
