National IFA firm Continuum believes that the latest figures from the Moneyfacts UK Mortgage Trends Treasury Report demonstrate the need for good financial advice when buying or remortgaging a home.
Nathan Stacey, Independent Financial Adviser at Continuum, said: “As the cost-of-living crisis continues to bite, the average two-year fixed rate has risen above 3% for the first time in over seven years, leaving many homebuyers and remortgagers with higher mortgage costs at a time when finances are already tight.
“With average rates rising, the value of getting quality independent advice when buying or remortgaging a home is higher than ever. Not only can a good mortgage specialist get access to the best rates, one experienced in wider financial advice can also help you get your financial affairs in order before applying to make sure you can achieve the most competitive rates available for your individual circumstances.
“For example, I have just submitted a remortgage at 70% LTV at 2.30% for a 2-year fixed rate, and did a product transfer last week at 2.00% fixed for two years too.
“Rates are being pulled all the time too, so choosing the most suitable provider is critical. If clients are concerned at rising rates, they should seek quality independent advice.”
