3
Jun
New mortgages 'may be appealing to homeowners'
Homeowners may welcome new mortgage offerings being provided by one
firm, it has been claimed.
The deals are from Accord and those responsible for their
introduction say they can give consumers safety from interest rate
fluctuations.
Currently, the base rate stands at 0.5 per cent and while analysts
do not predict there will be an immediate rise, the Bank of England
is likely to implement increases as the economic recovery
continues.
Accord's new products include a ten-year fixed-rate offset
loan.
Commenting on the mortgage, Ray Boulger from John Charcol stated:
"[It] provides a very welcome addition to the market at a time when
no one is really certain what the future looks like."
He added that it will attract many consumers and should be
considered as a "sensible alternative" to some other loans.
Mr Boulger noted that while the demand for ten-year mortgages has
always been small, there is a "dearth in choice" for them and
Accord has filled that gap.
