Strong deals have followed MPC rate rise, says Clear Cut

Clear Cut Mortgages says that as the dust settles following the MPC&#39s rate rise, strong deals are emerging from the rate-raising gloom.

Clear Cut says that some of the best deals on the market remain fixed and discount deals.

Ben Thompson, director at Clear Cut Mortgages, says: “The Nationwide 0.35% increase was a surprise, but it&#39s worth closer inspection. It may seem uncompetitive compared to the likes of Abbey and HSBC but it&#39s actually an increase from a lower level in comparison to other lenders.

However, Clear Cut certainly wouldn&#39t expect Nationwide to pass on a full rise if and when the rates are hiked again.

“Consumers concerned that interest rates are likely to go up substantially over the coming 12 months should be considering fixes from Britannia, at 4.19% for two years or Principality at 4.79%.

“However, for those of us who do not believe that rates are likely to go up more than 1% over the next year, a discount product remains an attractive option. In this market, Staffordshire and Nottingham are the most attractive deals.

“Borrowers should keep a close eye on the reactions of their mortgage lender and remortgage if necessary – but Clear Cut urges them to get expert advice before choosing their mortgage to ensure they are getting the best deal possible.”