The overall cost for comparison is 5. 4. As brian murphy, lending manager of broker mortgage advice bureau, points out, the average fixed rate in 2003 when interest rates dropped right down to 3. Overall cost for comparison: 5. 9. Mortage calculation.

Rates are being lowered by up to 0. 2. For this reason ten- year deals will probably only suit a small minority of borrowers. Completion fee £295 deducted from the advance. Portman building society is reducing the interest rates on several of its fixed rate mortgage products, further increasing the competitiveness of its range. David greenleaf corporate communications manager 01453 76824.

Remember also that even the experts views on interest rates are informed speculation and not guaranteed predictions. Switching your mortgage from your current lender and your property is worth £2 million or more. The charge varies depending on how long you have left on your fixed rate. Mortgage brokers say their experience supports this. Though cheaper, variable rate mortgages are for those hardy souls who are willing and able to take some pain later on.