Twitter Facebook RSS FEEDS

Borrowers urged to do the mortgage maths

Thursday, 3 June 2010 8:00 AM

Homeowners have been urged to do their maths before switching mortgage provider.

The general consensus is that interest rates will remain relatively low for the foreseeable future, according to Your Mortgage, which may make newly announced variable rate mortgage deals attracted to particular borrowers.

Lloyds TSB is the latest lender to bring its new variable rate in line with the market average, at 3.99 per cent, and follows a similar move by Nationwide.

The new rate replaces the previous 2.5 per cent rate which was available to new customers when their mortgages came to an end.

Your Mortgage editor Paula John explained that its important homeowners do some calculations before switching lender.

She added: "Rather than leaving at a certain peak, I would recommend that anyone does the maths before they jump ship.

"Given that the standard variable rate that they are moving people to is about industry average, I don't think that many people are going to desert the ship overnight."

Related stories

Row of houses in London

What to do if you're struggling with the mortgage

Citizens Advice has published eight pertinent tips for those worried about paying the mortgage.

 Borrowers do not know mortgage details

Borrowers 'do not know their mortgage rate'

Borrowers 'do not know their mortgage rate'
Over-regulation could shut some out

Will mortgage proposals freeze out borrowers?

House purchase loans could be harder to get if FSA proposals go through, it has been suggested.

 Use extra cash from increased council tax on empty homes to help bring them back into use, says Shetler Scotland. Image: Thinkstock

Scottish government urged to invest in empties

Use extra cash from increased council tax on empty homes to help bring them back into use, says Shetler Scotland.

Mortgage contract

First-time buyers urged 'be wary of mortgage deal'

Experts have warned that a new loan offer from Barratt and Hitachi Capital should only be used where "absolutely necessary".

 Policeman accompanies family through riot scene

Riot victims urged to contact insurers

The ABI has urged individuals and businesses affected by the riots to contact their insurers as a matter of urgency.
More home owners would take up Green Deal energy efficiency programme with lower VAT, say groups. Image: Thinkstock

Government urged to cut VAT on Green Deal

Coalition of 26 groups say 5 per cent VAT rate would encourage home owners to make property more energy efficient.

Pay mortgage with bonuses borrowers urged

Pay mortgage with bonuses borrowers urged

Pay mortgage with bonuses borrowers urged
Mortgage payment reminder

Struggling borrowers must tell lenders says Which?

Seven in ten people are worried about mortgage rates but just a third struggling with repayments have approached their lender for help.

 Around one in three 35 to 54 year-olds do not have cover to protect their mortgage payments.

Four in ten mortgage holders do not have life insurance

Four out of ten mortgage holders do not protect their contributions with life insurance, say Sainsbury's.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Beds Direct

Beds Direct Logo
Whether you've just moved into a property and need to furnish it or just fancy having something new to sleep on, Beds Direct offer you a wide array of beds to order online or via the telephone.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Propertywide

Propertywide Logo
Propertywide.co.uk is Countrywide plc's dedicated property website. Created to provide online access to all our estate agency, lettings and property related services, Propertywide.co.uk has been designed with the consumer at heart.

The 21st Century Radiator Company

The 21st Century Radiator Company Logo
Welcome to 21st Century Radiator Company. We supply a stunning range of traditional reproduction high quality cast-iron radiators and cast-iron baths. All our cast-iron radiators and cast-iron baths are brand new, fully tested and guaranteed for ten years.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

Why increasing amounts of people are opting for house shares

London is an expensive place to live, however, house shares offer you the opportunity to enjoy the hustle and bustle of the capital for a fraction of the price you would pay to live on your own, making them a cost-effective way forward.

Why sliding door wardrobes are the best choice for small spaces

When bedroom space is at a premium, you need to be creative with the furniture you invest in. In terms of the wardrobe, you may want to consider those with sliding doors, as they are the most practical in small bedrooms thanks to the doors.

The durability of mahogany furniture is ideal for the office

For office-based businesses it is vital to invest in high-quality furniture that is both practical and comfortable to use. While there are many products to choose from, the benefits on hand with items made from mahogany mean it is an option you should be certain to consider.