At the moment interest rates on mortgages and secured loans seem to be increasing weekly. It makes it very hard for people wanting to get into the housing market. I deal with this stuff regularly because as you may be aware, I’m an accountant.
I’m hoping the interest rates start dropping again some time soon, because Rob and I would like to buy a house eventually but won’t be able to afford one at this rate!
Obtaining a loan can be tedious, but it’s only for the best, you can understand the banks’ point of view and it’s nice to know they’re so secure!
We have clients at work who remortgage every year to a different bank to achieve a better interest rate. But when you look at the discharge fees they have to pay it doesn’t seem worth it. I think once you’re offered a good, low interest rate, you’re best to fix it for 25 years!