Increasing Bank Base Rate
Due to the increasing Bank Base Rate and volatility in the finance markets lenders are amending their product offerings at an alarming rate.
A lender 6 months ago may have reviewed their rates every few months, today some lenders are changing their rates on almost a weekly basis. This is most notable with long-term lenders such as Buy to Let, Commercial and Trading Business mortgages.
As such, although we work hard to make sure that every lender’s Indicative Terms are up to date, there may be times when the Bank of England increases the Bank Base Rate and lenders amend their rates accordingly before a Decision in Principle or Offer is confirmed.