In a bid to keep the economy stable during the wake of Coronavirus, in March 2020 the Bank of England announced an emergency cut in interest rates from 0.75% to 0.25% and again from 0.25% to 0.1%. While bad news for savers, it's great news for borrowers, as lenders use the Bank of England base rate as a reference point for many mortgages.
What does this mean for your mortgage?
Tracker - If your product is tracking the Bank of England base rate this is great news for you and you will soon see your monthly repayment cost reduce
Variable - Your rate is likely to reduce, but not guaranteed
Fixed Rate - Your monthly mortgage payment is set and will not move until you exit this product
Mortgage providers will be adjusting their product rates in line with this change, so now is a great time to find the perfect mortgage for you. Call us on 01344 753171 or visit your local branch to book an appointment.
Face-to-face mortgage advice to suit your needs
Buying and selling property is exciting, but we know how important it is to have your finances organised and prepared in advance, so that you can secure the home of your dreams with minimal complications.
Our board of experienced financial advisors are available to guide you through the entire mortgage process – whether you’re arranging a new loan, consolidating your existing finances or hoping to re-mortgage. With over 30 years of experience in the property market, we are proficient in finding our clients the very best mortgage deals, comparing over 12,000 products from 100+ of the UK’s most reputable lenders. We’ll even do the paperwork for you!
Contact us today to arrange your mortgage appointment by calling 01344 753171.
The latest statistics from Leaders Mortgage Services
Loan to value mortgages available
Mortgage products available
Mortgages available from lenders
Advisors across UK
Your home may be repossessed if you do not keep up repayments on your mortgage.
There will be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Leaders is delighted to now offer virtual viewings and valuations across our branch network. This is all part of our commitment to continue providing our customers with the very best and up-to-date property services no matter what...
Buying a flat or maisonette is slightly more complicated than buying a house, for several reasons! There are several things you need to consider, so it's important to make sure you ask the right questions when going to view your ...
According to Dataloft and the Ministry Housing Communities, the average UK house price has risen by over 42% in the last decade, so it’s unsurprising that first-time buyers are finding it harder than ever to save ...
When Debbie and Matthew Long found the perfect property for their young family, they knew that Shared Ownership was the only way they would be able to make their dream become reality. With the help of Leaders’ Shared Ownership ...