The Sunday Times - Gone in 24 hours: cheap mortgage deals vanish fast
Homebuyers are scrambling to secure a cheap mortgage deal. Lenders are regularly increasing mortgage rates by as much as half a percentage point and pulling products from the market within 24 hours of launch. Even buyers with a hefty deposit or large equity stake in their home are struggling to bag a good deal.
Aaron Strutt from the mortgage broker Trinity Financial told The Sunday Times: “Some of these rate rises have been pretty scary. Lenders do not want to be leading the best buy tables because they struggle to keep up with demand and rates are just continuing to go up.”
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