Borrowers who need a mortgage because their current fixed rate agreement is ending, or because they are purchasing a home, should explore their options as soon as possible.
Quick mortgage finder links to This is Money’s partner L&C
> Mortgage interest calculator
> Find the right mortgage for you
What should I do if I need to take out a new mortgage?
Borrowers should compare rates, talk to a mortgage broker and be prepared to take action.
Homeowners can sign a new deal six to nine months in advance, often with no obligation to enter into it.
Most mortgage agreements allow fees to be added to the loan and will not be charged until closing. This means borrowers can secure a rate without paying expensive arrangement fees.
Please note that if you do this and do not repay the fee on completion, interest will accrue on the fee amount for the entire term of the loan. So this may not be the best option for everyone.
What if I buy a house?
Those who have entered into a home purchase agreement should also aim to secure rates as quickly as possible so they know exactly what their monthly payments will be.
Buyers should avoid overextending and be aware that home prices may fall as higher mortgage rates limit people’s borrowing options and purchasing power.
How to compare mortgage costs?
The best way to compare mortgage costs and find the right deal for you is to talk to a broker.
This is Money has a long-term partnership with free broker L&C to provide you with expert mortgage advice free of charge.
Curious about today’s best mortgage interest rates? Usage This is the best mortgage interest calculator from Money and L&C to display deals that suit your home value, mortgage size, term and fixed rate needs.
If you’re ready to find your next mortgage, use L&C’s online Mortgage Finder. It searches thousands of offers from more than 90 different lenders to discover the best deal for you.
> Find your best mortgage deal with This is Money and L&C
Please note that rates can change quickly. So if you need a mortgage or want to compare rates, contact L&C as soon as possible so they can help you find the right mortgage for you.
Mortgage service provided by London & Country Mortgages (L&C), authorized and regulated by the Financial Conduct Authority (registration number: 143002). The FCA does not regulate most Buy to Let mortgages. If you do not make your mortgage repayments, your home or real estate may be seized