Temptingly low two-year fixed mortgage rates may cost homeowners in the long run, broker warns
Homeowners and prospective buyers are being warned not to be seduced by eye-wateringly low two-year mortgage rates, as changes in the British economy could mean they could end up costing them in the long run.
Mortgage rates have fallen to their lowest ever level since the UK voted to leave the European Union in June, with the cheapest deal available now fixed at less than 1 per cent for two years.
But after months of lenders slicing their rates to entice homeowners to remortgage, one firm of mortgage brokers is warning that unless there is a good reason to take a short-term deal, borrowers... read more
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